Website en.wanhuagroup.com Founded 2001 | Headquarters Yantai, China Key people Jiansheng Ding (CEO) | |
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Number of employees apx 15000 (including BorsodChem) | ||
The Wanhua Industrial Group is a Chinese chemical company that is the world largest producer of isocyanate (MDI or methylene diphenyl diisocyanate) in terms of capacity.
The company has an annual MDI production capacity of 2.1m tonnes per year. In comparison, Covestro (ex Bayer MaterialScience) has a capacity of 1.245m tonnes/year. Yantai Wanhua Polyurethanes is a subsidiary of the Wanhua Group and is listed on the Shanghai Stock Exchange.
In one of the biggest Chinese outbound investment deals in Europe in 2011, Wanhua acquired Hungarian chemical maker BorsodChem for $1.6 billion. The buyout of Wanhua from private equity firms Permira and Vienna Capital Partners came at a financially bleak time for BorsodChem and allowed the company to avoid laying off its 2700 employees.