Sinochem buys control of Shandong refinery

摘要

Singapore-China's state-owned Sinochem Group has bought a controlling stake in Hongrun Petrochemical Company in Weifang city, Shandong province, boosting its presence in the downstream sector, the company said in a statement last week. Sinochem will formally take over the refinery in 2011, the company said. Sinochem did not reveal any financial details of the transaction.