Staged Tunxiang Billions 9 billion acquisition Lomon Titanium2015.10.13 08:44
Domestic production for the second titanium dioxide industry Henan Billions Chemicals Co., Ltd.(hereinafter referred to as Billions,002601.SZ) successful counter-attack,the first among the industry,with total assets of Billions twice Sichuan Lomon Titanium Co. annexation.
The cost to spend 9.0 billion acquisition of Sichuan Lomon Titanium Co., Ltd.(hereinafter referred to as Lomon Titanium) 100% stake after the Billions of titanium dioxide will become the industry leader.
Information Billions this evening bulletin said that after the completion of the acquisition,Billions of titanium dioxide production capacity/year increase from the existing 260,000 tons to 560,000 tons/year.The company's titanium dioxide production capacity from the current ranking rose to second ranked ranked first in the world ranking fourth.
Set by billion "Tunxiang"
Whether it is in terms of total assets,or in the industry in terms of rankings,Billions acquisition Lomon Titanium,can be regarded as a "counter-attack."
Lomon Titanium established in February 2001 with a registered capital of 1.2 billion yuan.Lomon Titanium ownership structure,holding 40 percent of natural right Lee,Sichuan Lomon Group Co., Ltd. 33.13% stake in Tibet Lomon Investment Limited holds 26.87%,Lomon Group,Tibet Lomon,Lomon Titanium The actual controller of Lee right.
"Daily Economic News" reporter noted that Lomon Titanium dioxide's main business is the production,sale,possession, "vanadium-titanium magnetite,titanium ore,titanium dioxide," a complete industrial chain.Its titanium dioxide products are mainly used in paints,inks,plastics,paper,rubber and other industries.
Transaction information,in recent years,Lomon Titanium dioxide production and sales volumes continued to maintain first in the industry.
In 2014,the company nearly 300,000 tons of titanium dioxide production,accounting for about 12% of the national total,ranking only domestic industry first,also ranked first in Asia and sixth in the world.Last year,operating income of 4.441 billion yuan,net profit attributable to equity holders of 679 million yuan.
And Billions of titanium dioxide production last year 194,800 tons,accounting for about 8% of the national total,ranking second domestic industry.
Accordingly,in accordance with the acquisition announcement Billions disclosure,at the end of last year,total assets Billions of 4.642 billion yuan,attributable to shareholders of listed companies net assets of 2.213 billion yuan.And assessed by the end of last year,to assess Lomon Titanium entire value of 9.51 billion yuan of shareholders' equity.After mutual consultation,the exchange price of 90 million yuan.
This means Billions of the acquisition target,a body of about two times its industry leading,rather,"Tunxiang" means.
To raise this heavily Billions approach taken is set by the 10 investors of shares to raise 10 billion yuan of funds.In addition to 9 billion yuan for the takeover,the remaining funds used to repay bank loans and supplement working capital.
Ranked fourth in the world the first
For Billions,the titanium dioxide industry to attract the growing market demand in order to improve their yield bother.
Billions announcement,the downstream market demand for titanium dioxide in the paint industry,accounting for nearly 60% with the continuous development of urban construction in recent years,China's market demand for paint products is growing.Since 2007,China's paint output CAGR of 15.6%.2014 annual output reached 16.482 million tons of paint,ranking first in the world.
And paint products as the first large applications titanium dioxide industry,the continued growth in demand will drive the growing demand for titanium dioxide products,provide opportunities for further development of China's titanium dioxide business.
On the other hand,demand for titanium dioxide in foreign markets also continued to grow.According to Customs statistics,as of December 2014,China's total annual exports amounted to titanium dioxide 552,500 tons,an increase of 37.08 percent,and has maintained positive growth in a single month for 18 months.
However,trading announcement shows that in 2014 the whole process of titanium dioxide production enterprises 46,the National Titanium Dioxide production was 2.435 million tons.Total production in the top five companies in the industry accounted for about 38% of national output,concentration is not high,the production of titanium dioxide industry,energy distribution is more dispersed,with international competitors are still gaps.
In contrast,in the international titanium dioxide market,the high concentration of the industry's capacity.In 2014 the top five in the production of titanium dioxide business,DuPont is 1.17 million tons,915,000 tons Huntsman,Kost 778,000 tons,522,000 tons Connors,Teno 380,000 tons.
Indeed,the international market is also an important value Billions sales market.
"Daily News" reporter combing found that in 2014 Billions main business income 2.015 billion yuan,of which 974 million yuan from foreign markets,accounting for about 48%.And,Billions this will set up a wholly owned subsidiary in the Americas,increasing its titanium dioxide products sold abroad.
It is worth mentioning that after the completion of the acquisition Lomon Titanium,Billions of titanium dioxide production will among the first in Asia and fourth in the world, narrowing the gap with the international competitiveness of enterprises.