Company News
Sinopec petroleum machinery ass into jiang drill

 Morning paper dispatch China petroleum and chemical corporation (" sinopec ") assets further, jianghan petroleum drill bit co., LTD. (jiang drilling stake, 000852) on July 16th evening announcement, is planning a non-public stock financing to buy sinopec petroleum machinery assets. Previously on July 14, sinopec yizheng chemical co., LTD. (* ST YiHua, 600871), according to the announcement the material assets reorganization involves China petrochemical corp petroleum engineering related businesses and assets of the plates.

Once the petroleum machinery assets restructuring of listed, sinopec will form the future sinopec shares, refining, petroleum engineering technology service and petroleum machinery four assets have been listed.

 

Jiang drill sluggish stock equity transfer

 

Jiang drilling company announcement said, China petrochemical group confirmation to the actual controller, the China petrochemical group is planning the company non-public stock to raise money to buy the actual control of sinopec oil machinery manufacturing business related assets. So far, China petrochemical group is continuing to planning jiang drilling stake in the private bank related matters.

 

Data shows, jiang drilling stake in November 26, 1998 in shenzhen stock exchange, is Asia's largest manufacturer of oil drilling, sinopec group, a wholly owned subsidiary by sinopec jianghan petroleum administration bureau holds a 67.5% stake.

 

On May 14, 2013, jiang drilling stake, according to the announcement received the China petroleum and chemical group on the China petroleum and chemical group co., LTD. Petroleum engineering professional integration and restructuring guidance on the implementation of the law and other relevant documents. According to the above-mentioned documents, China petrochemical group holds a 67.5% stake in the transfer to sinopec jianghan petroleum administration bureau, petroleum engineering machinery co., LTD. (hereinafter referred to as "sinopec petroleum machinery"), the controlling shareholder will change to sinopec oil machinery, actual control of people who still for China petroleum and chemical group co., LTD.

 

But the above matters have been no new developments in jiang drilling stake this year in its annual report released on March 24, 2013, said the jianghan petroleum administration bureau and sinopec petroleum machinery has not signed the equity transfer agreement, but says the controlling shareholder will change to sinopec petroleum machinery.

 

Previously, in January 2013, sinopec petroleum machinery was established in wuhan, including third petroleum machinery plant of jianghan petroleum management bureau, the fourth petroleum machinery factory, shashi steel pipe, petroleum machinery research institute, and jiang drill held by the jianghan petroleum administration bureau of tarceva company's equity, and the four machine has been included in the restructuring of the sinopec petroleum machinery range.

 

Jiang drilling stake, said to guarantee fair information disclosure, investors interests, avoid the abnormal stock price fluctuations, the application for stock since July 17, 2014 opened to continue the suspension.

 

Sinopec group

 

The listed company group of incipient

 

Fu chengyu, chairman of China petrochemical group is famous for its good at capital operation, after enter the China petrochemical group, began to various professional restructuring their business operations to the company.

 

On May 23, 2013, sinopec petrochemical engineering (group) co., LTD. (sinopec refinery project, 02386. HK) H shares listed on the Hong Kong stock exchange main board, the first half of last year, raising of Hong Kong, China's largest IPO (initial public offering) project.

 

Since then, successive similar actions. On March 17, 2014, sinopec easyjet sales co., LTD. Was founded in Beijing. According to sinopec controller introduces, easyjet company will through the marketization, specialization of operation, gradually solve the abuses in operations management, further enhance the competitiveness of the retail sales enterprise network. Company the next step is to expand the scale of commodity BHG, reduce procurement costs, resource integration system, innovative marketing and innovation mechanism, cultivate professional operating management team effort.

 

Didn't how often, on April 1, China petrochemical group will be the product sales business sector overall assets transferred to a wholly owned subsidiary of China petrochemical sales co., LTD has, management and control.

 

In addition, China petrochemical group petroleum engineering business restructuring in advance.

 

On December 28, 2012, sinopec petroleum engineering technology service co., LTD. In Beijing the opening of petroleum engineering department by sinopec group company, jianghan oilfield and shengli oilfield, zhongyuan oilfield eight fields such as petroleum engineering enterprise business, assets, personnel, and the international petroleum engineering company, Shanghai ocean petroleum and other four petroleum engineering whole units set up integrated reorganization.