Chi Mei-Grand Pacific Petrochemical merger to create largest ABS maker in China

03-Mar-08
The Boards of Taiwanese petrochemical giants Chi Mei Corp. and Grand Pacific Petrochemical Corp. have signed a memorandum to merge a total of 6 units in China. The merger will create the largest producer of Acrylonitrile Butadiene Styrene (ABS) in China with annual capacity of 700,000 tons. Based on the memorandum, the two companies will start inspections of merging the six subsidiaries in China's Jiangsu Province - three from Chi Mei and three from Grand Pacific Petrochemical.
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