Sinochem International Buys 51% of GMG
Sinochem International Corporation subsidiary Sinochem International (Overseas) Pte Ltd. has Bought a 51 per cent stake in Singapore-based natural rubber producer GMG Global Ltd. for SG$ 267.
98 million (£106.4 million). GMG operates natural rubber business in Africa and elsewhere with plantations in Cameroon and Ivory Coast and processing facilities in Indonesia.
Amongst other things Sinochem International expects the deal to help position it for growth in the global rubber market. China contributes to over 20 per cent of the world’s natural rubber consumption but only produces 7 per cent of the production. .