Beijing time2022year6month1 On March 1, Huafon Group officially completed the acquisition of the bio-based product-related business and technology divested from DuPont in the United States. This is Huafeng Group’s largest overseas M&A transaction so far.
Behind this cross-border merger and acquisition is Huafon Group“The 14th Five-Year Plan“Accelerating the internationalization of the industry , the specific implementation of product environmental protection strategy. “Under global industrial competition, this overseas merger and acquisition is not only a strategic deployment for our company to allocate international resources, reconstruct the bio-based materials industry chain and accelerate the pace of international operations, but also a strategic plan for the company to enhance its own competitiveness. One way.“You Feiyu, Chairman of Huafeng Group, said.
Sorona production base located in North Carolina, USA
This time Huafeng Group acquired the assets of DuPont’s business, mainly including its two production bases in the United States. One is a DuPont joint venture production base in Tennessee, USA, which owns Susterra® and Zemea®. A well-known brand whose main business is the research and development, production and sales of bio-based PDOPDO that can produce high-performance polyester plastics and make them biodegradable and easily recycled naturally. Another production base acquired by the merger is DuPont’s core manufacturing plant for Sorona® business in North Carolina, USA. The main products are sold under the brand Sorona® with performance advantages. An environmentally friendly fiber materialBio-based special polyester (PTT) This type of technology is developed by DuPont First developed and commercialized in 2000, its application fields are mainly the clothing and carpet industries, and other small-scale application markets also include automobiles and packaging.
PDOproduction base in Tennessee, USA
According to reports, the bio-based PDO and PTT and other products acquired this time, regardless of technology or In terms of market share, they are all in a leading position among global peers. PDO is the main raw material for the production of PTT , PTTAfter processing, it can be synthesized into fibers and engineering plastics. PTTWith its excellent characteristics, it is favored by clothing, carpets, electronics/ It is favored by industries such as electrical, automobile, appliance and furniture, and its current market share is continuously increasing, and the future market space has broad prospects.
As one of the leading companies in the domestic new materials industry, why does Huafeng Group go through so much trouble to choose overseas mergers and acquisitions?
“Under the ‘Double Carbon‘ goal, the main driving force for our overseas mergers and acquisitions is to fully build a green industrial chain, product chain and enhance the value chain, strengthen Huafeng The synergy ability of existing industries to accelerate green new technologies and industrial transformation and upgrading.”Vice President of Huafeng Group andCovation Biomaterials You Feifeng, chairman of the board of directors of the new company established after the acquisition, said that currently, Huafon Industry is in the process of going abroad. Strategically speaking, the target products of this acquisition are all originated fromBio-based is not only highly consistent with our industrial strategy and product strategic orientation, but can also replace some of our existing raw materials to produce environmentally friendly polyurethane products, promoting the scale of sustainable materials .
It is reported that in order to ensure the stability of operations after the acquisition,, Huafeng Group retained the acquired company’s management and technical core team as well as its business, R&D and production base in the United States. . Huafon Group hopes that the integration of a large number of international talents will bring more advanced management concepts, more professional ways of doing things and a more global perspective to the company.
“In the future, we will invest more resources, access a wider range of value chain partners and applications, and help newly acquired companies develop faster to consolidate their position as a cutting-edge supplier of bio-based materials.“You Feiyu said.
AboutSorona®:
Sorona® is a breakthrough new bio-based polymer solution that offers fabric mills and designers the benefits of renewable raw materials while being a versatile material. It provides outstanding performance and best-in-class design freedom for a wide range of applications.
As a leading bio-based polymer, Sorona® is made from 37% of Plants that are recycled every year. What’s more worth mentioning is that it has excellent environmental protection features. Compared to the production process of nylon 6 Sorona® uses less energy 30%, and greenhouse gas emissions reduced by 63%. Compared to the production process of nylon 6,6 Sorona® consumes less energy40%, and greenhouse gas emissions reduced by 56%.
Sorona® Bio-based polymers are widely used in household and commercial carpets, apparel, and automotive floor mats and rugs.
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