China Chemical Reporter, November 16th, 2007
On October 28th, China National Petroleum Corporation (CNPC) signed an agreement with Nanyang Municipal and Henan Tianguan Group Co., Ltd. in Nanyang City, to acquire a 55% stake in Tianguan Group. The move draws attention throughout the chemical industry.
By combining both sides' resources, CNPC intends to strengthen its presence in the bio-energy and chemical businesses. Tianguan Group will gain funds to finance its production and expansion of fuel alcohol. The mixture of technology, production of bio-energy and financial support is successful in the cooperation between CNPC and Tianguan ...
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