Sinochem International announced that Sinochem International (Singapore) Co., Ltd., a wholly-owned subsidiary of the company, intends to contribute to establish a holding subsidiary SPV company in Spain, with a shareholding ratio of 75.87%; SPV plans to acquire 100% of the equity of global Arlington from elix holding management S.A.R.L & partners s.c.a at a price of 144 million euros, and indirectly acquire the control of its wholly-owned subsidiary elix through global Arlington.

Elix polymers' main business is the production and sales of engineering plastics products. With internationally leading modified plastics technology and business model, elix polymers is an ABS manufacturer with outstanding performance in the middle and high-end markets in Europe. The know-how of the modified part of the target company is its own technology, which can be directly introduced. It is planned to build a special ABS and ABS alloy material modified plastic enterprise in East China near the application market, and copy the advanced business model of the target company to develop the needs of the automobile, electronics, electrical appliances and medical fields.