Sector News

CDH buys China’s top battery producer from P&G

December 8, 2014
Chemical Value Chain
Procter & Gamble (PG.NYSE) has sold off a 78.8% stake in Fujian Nanping Nanfu Battery Co. to Beijing-based CDH Investments Fund Management, marking the first time P&G has sold a brand to a Chinese buyer, Bloomberg reported, citing an email from CDH. 
 
P&G announced a plan in August that would divest the company of 100 product lines, accounting for 10% of sales. Buyer CDH said it had purchased China’s top alkaline battery maker for “nearly” US$600 million. Last month, P&G said it would sell the Duracell battery brand to Berkshire Hathaway Inc. for US$4.7 billion in stock.
 

comments closed

Related News

February 4, 2023

Eastman acquires performance films company Ai-Red Technology

Chemical Value Chain

Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.

February 4, 2023

BASF and StePac partner on chemical recycling MAP packs to fight food waste

Chemical Value Chain

BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.

February 4, 2023

TotalEnergies and Intraplás partner on food-grade renewable biopolymer production

Chemical Value Chain

TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.

How can we help you?

We're easy to reach