www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

COFCO's Ning to lead Sinochem for international growth

By Zhong Nan (China Daily) Updated: 2016-01-06 08:35

COFCO's Ning shifts from top food trader to drive Sinochem's international growth

The administrator of China's central State-owned enterprises announced a personnel reshuffle on Tuesday which is aimed at giving further impetus to the global expansion of one of the nation's top chemical firms.

The State-owned Assets Supervision and Administration Commission said 57-year-old Ning Gaoning, former head of COFCO, will become new chairman of Sinochem Group.

COFCO's Ning to lead Sinochem for international growth

Ning Gaoning, new chairman of Sinochem Group [Photo/China Daily]

The commission said that Zhao Shuanglian, chairman of China Grain Reserves Corp, will become the head of China National Cereals, Oils and Foodstuffs Corp.

Zhao, 58, has served as chairman of Sinograin, the country's largest and most wide-ranging grain storage and transportation company since 2013.

During Ning's 11-year tenure, COFCO has developed businesses related to growing grain, food processing, maritime transportation for commodities and real estate.

Its branded products include Great Wall wines and Joy City shopping malls throughout a number of cities in the country.

COFCO had total assets of $71.9 billion and revenue of $71.8 billion in 2014, half coming from businesses in 140 countries and regions, according to the company's financial report.

Ding Lixin, a researcher at the Chinese Academy of Agricultural Sciences in Beijing, said Ning has experience in overseas merger and acquisition deals.

The central government is hoping that Ning can help Sinochem enhance its step to acquire more quality global companies.

Sinochem has businesses in a wide range of fields, from chemicals and crude oil to agricultural products and real estate. Its financial report for 2014 showed that it had total assets of 355.4 billion yuan ($54.48 billion) and revenue of 496.8 billion yuan.

Eager to enhance its earning ability in the global market, Sinochem has been keen to acquire quality manufacturers and cooperate with energy companies in Europe, Africa and South America over the past three years.

COFCO's Ning to lead Sinochem for international growth

Zhao Shuanglian, new head of COFCO [Photo/China Daily]

Wang Zhimin, a professor at the Beijing-based China Agricultural University, said the move highlights government's willingness to secure ownership of more industrial and energy companies overseas, further cast off the constraints on domestic production and dependence on imports, especially for high-end chemical and petrifaction technologies and products.

With a total spending of $750 million, COFCO took full control of Noble Agri Ltd, after buying the remaining 49 percent of the company still owned by Noble Group, the Hong Kong-based global supply chain manager.

COFCO bought 51 percent of Noble Agri in 2014, and since then has been actively engaged in resource consolidation to optimize asset allocation and boost its profitability.

It also spent $2.8 billion on a 51 percent stake in the Netherlands-based grain trader Nidera BV in February 2014.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: xoxoxoxo欧美性护士 | 1024香蕉视频在线播放 | 精品国产免费人成高清 | 欧美色大成网站www永久男同 | 日韩一级免费毛片 | 日本特黄特色高清免费视频 | 欧美一级毛片日本 | 特级一级毛片免费看 | 一级做a爱过程免费视 | 色综合精品久久久久久久 | 国产成在线观看免费视频 | 一级毛片一级毛片一级毛片 | 亚洲国产另类久久久精品小说 | 欧美日韩一区二区三区在线视频 | 香蕉久久高清国产精品免费 | 日本三级香港三级网站 | 大胆gogo999亚洲肉体艺术 | 亚洲日本欧美产综合在线 | 国产成人精品一区二区三区 | 国产高清在线不卡 | 中文字幕 亚洲 一区二区三区 | 在线欧美精品一区二区三区 | 一级一毛片a级毛片欧美 | 久久精品视频一区 | 亚洲一区中文 | 精品在线免费视频 | 国产精品一区二区综合 | 高清国产亚洲va精品 | 免费一级毛片不卡在线播放 | 91久久香蕉| 露脸 在线 国产 眼镜 | 欧美高清在线视频一区二区 | 欧美一级高清片在线 | 亚洲视频免费观看 | 国产在线视频网址 | 国产成人精品免费 | 最新国产午夜精品视频成人 | 18在线网站 | 欧美三级aaa | 久久久9999久久精品小说 | 欧美视频一区二区三区 |