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Tianyu Group Acquires Qingdao Zhongda Chemical Fiber
Qingdao Zhongda Chemical Fiber Co., Ltd., a joint venture 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 for Tianyu Group, as it strengthens its position in the domestic nylon production industry.
Following the merger, the combined entity is expected to become the largest nylon production enterprise in China. The deal is valued at 450 million yuan, and it will significantly boost Tianyu Group's annual production capacity. Before the acquisition, the company produced 88,000 tons of nylon annually, but with the integration of Qingdao Zhongda, this figure will rise to 108,000 tons, an increase of 20,000 tons.
This move not only expands Tianyu’s manufacturing capabilities but also enhances its market competitiveness. With the addition of Qingdao Zhongda’s advanced technology and production facilities, the company is well-positioned to meet growing demand in both domestic and international markets. Analysts believe that this acquisition will help Tianyu consolidate its leadership in the textile and chemical fiber sector, while also contributing to the overall development of China’s chemical industry.