Chinese chemical supplier to list on SIngapore exchange

Singapore - China Sunsine Chemical Holdings Ltd, a maker of rubber chemicals, is planning a listing on the Singapore stock exchange. The offer opened today and closes on July 3.

China Sunsine (not "Sunshine") is based in Shandong Province, China and makes accelerators, anti-scorch agents and other chemicals for the rubber and tyre industries. The company claims to be one of the biggest makers of rubber accelerators in the world.

CSCH said 98 percent of income was generated by sales of accelerators in 2006. Total turnover in 2006 was RMB 475 million (€46,3 million), split roughly half and half between domestic sales and exports.

Net profit margin has stood at over 20 percent annually for 2004, 2005, and 2006, according to the prospectus issued by the company.

CSCH has total capacity for 32 000 tonnes per year and makes rubber accelerators based on thiazoles, sulphenamides, thiurams and guanidine. The company also makes anti-oxidants, anti-scorch agents and other chemicals.

The company lists Bridgestone, Michelin Goodyear, Pirelli, Yokohama and Hankook as its customers, as well as most of the large Chinese tyre makers.

The company says it plans to develop production capacity for insoluble sulphur, TMQ and to expand capacity for sulphenamide-based accelerators.

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Listing announcement on Singapore stock exchange

Download prospectus (7MB .PDF file)