Rianlon Corp., a Tianjin, China-based chemical company, will buy over 90% of the shares in Kangtai Lubricant Additives Co., a major Chinese lubricant additives supplier based in Jinzhou, Liaoning province.
The deal will cost Rianlon 596 million Chinese yuan (U.S. $90.9 million), with ¥179 million to be paid in cash and the rest in stock. An outsider to the lube industry, Rialon’s main business is making anti-aging additives for polymer materials. Its products include ultraviolet light absorbers, light stabilizers and antioxidants for plastics. The company has a subsidiary in the United States and claims to have high profile clients, including BASF, LG Chemical and Sinopec.
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