On December 15th, ST Yabang issued an announcement stating that Jiangsu Jiamai Chemical Co., Ltd. and Lianyungang Yabang Acid Manufacturing Co., Ltd., two subsidiaries of Jiangsu Yabang Dyestuff Co., Ltd., which hold 51% of its shares, recently received Jiangsu Lianyungang Chemical Industrial Park. According to the notice of the management committee, Jiangsu Jiamai and Yabang Acid Manufacturing Co., Ltd. were included in the exit plan due to the adjustment of the park's positioning that did not meet the requirements of the park's future industrial chain integration development.
ST Yabang stated that according to the requirements of the notice, combined with the adjustment of the park’s positioning and its own industrial development plan, after fully evaluating the actual status of the factory, it plans to sign an "Asset Purchase Agreement" with the Jiangsu Lianyungang Chemical Industrial Park Management Committee to cooperate with the park’s renovation Requirements, implement the demolition withdrawal plan.
According to the announcement, the agreement stipulates that the Lianyungang Chemical Park Management Committee will acquire the land use rights of Jiangsu Jiamai and Yabang Sulfuric Acid Plant in Lianyungang Chemical Park and the real estate such as houses, roads, greening, water and electricity on the land. The two companies’ asset transfer and demolition compensation costs totaled 305 million yuan. Among them, Jiangsu Jiamai is 187 million yuan, and Yabang Sulfuric Acid is 118 million yuan.
The agreement stipulates that ST Yabang shall be responsible for the dismantling of production equipment and auxiliary equipment. The dismantled production equipment and auxiliary equipment shall be owned and disposed of by the company, and corresponding disposal income and expenses will be generated later, and the specific amount cannot be confirmed temporarily.
It is reported that Jiangsu Jiamai Chemical Co., Ltd. and Lianyungang Yabang Sulfuric Acid Chemical Co., Ltd. have unified environmental protection shutdown and rectification requirements after the "4.28" government in 2018 and the provincial and municipal chemical industry safety and environmental protection improvement requirements after the Yancheng Xiangshui "3.21" accident. , Long-term suspension of production for safety and environmental protection rectification, has not yet resumed production.
On October 30, 2020, the General Office of the People’s Government of Jiangsu Province issued the “Notice of the Provincial Government on Strengthening the Centralized and Standardized Management of Chemical Parks in the Province”. Lianyungang Chemical Industrial Park is positioned as a chemical concentration area, and the concentration area requires no new or expanded production capacity. For similar chemical projects, the chemical park is planned to be adjusted to Lianyungang Petrochemical Industrial Base Expansion Zone. The two companies of Jiangsu Jiamai and Yabang Acid Manufacturing did not meet the requirements for the integration of the future industrial chain of the chemical park and were included in the exit plan.
According to the data, Jiangsu Jiamai mainly produces benzoic acid, benzaldehyde, benzoyl chloride, trichlorotoluene, hydrochloric acid, p(o)chlorobenzaldehyde, p(o)chlorobenzonitrile; Yabang Acid Manufacturing mainly produces sulfuric acid and chlorosulfonate Acid, thionyl chloride, liquid sulfur trioxide, liquefied sulfur dioxide, hydrochloric acid, sodium sulfite and other products.
