Taiwan's Chi Mei,GPPC mull merger of China PS,ABS businesses

摘要

Sydney - Taiwan's plastic resin producers Chi Mei Corp.and Grand Pacific Petrochemical Corp.are considering merging their polystyrene,acrylonitrile butadiene styrene and polymethyl methacrylate operations in Zhenjiang,China,company sources said March 4.Both firms will soon sign a letter of intent and conduct their own internal due diligence for the proposed alliance.Chi Mei is expected to have a controlling share in the dual-partnership,and the proposed new entity already has a name,Zhenjiang Chi Mei Chemical Co.