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Tianyu Group Acquires Qingdao Zhongda Chemical Fiber
Qingdao Zhongda Chemical Fiber Co., Ltd., a joint venture established between Qingdao Zhongtai Group and the French company Rhodia Corporation, has been fully acquired by Quanzhou Tianyu Chemical Fiber Weaving Industry Co., Ltd. at the end of January. This strategic acquisition marks a significant milestone in the Chinese textile industry, as the merged entity is expected to become the largest nylon production enterprise in the country. The deal is valued at 450 million yuan, significantly boosting Tianyu Group's annual production capacity from 88,000 tons to 108,000 tons. With this expansion, Tianyu is well-positioned to strengthen its market leadership and meet growing demand for high-quality nylon products both domestically and internationally. The merger also reflects the ongoing trend of consolidation in the chemical fiber sector, as companies seek to enhance efficiency, scale, and competitiveness in an increasingly globalized market.