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The report pointed out that companies in the Middle East have the advantages of rich raw materials and low prices. They are currently seeking investment opportunities in the petrochemical sector and are inclined to acquire Western companies to obtain advanced technical support. The Chinese companies are mainly promoted by the government to purchase chemical products to meet the growth of domestic demand and achieve self-sufficiency in chemical products. Both chemical companies in the two regions are backed by cash-rich government support.
At the same time, western companies are in a critical period of rationalizing their businesses. At the same time, they are struggling with the weak market demand caused by the financial crisis. It is expected that the demand of the Western petrochemical market may return to 2007 before 2011. The year level. KPMG Consulting analyzed in the report that in the next 18-24 months, Western chemical companies will continue to focus on coping with the severe impact of the economic downturn and are unlikely to extract energy and cash for large-scale M&A.
In addition, KPMG Consulting also stated that by 2015, China will replace the United States as the world’s largest producer of chemical products, while capacity expansion in the Middle East will result in the elimination of low-competitive capacity in the European petrochemical industry. The production capacity accounts for about 20% of the total petrochemical capacity in Europe.
KPMG cited data from another consulting firm, Thomson OneBanker, saying that 2006 and 2007 were the peak period for the global chemical M&A market. However, since 2008, the global chemical industry's M&A transaction volume has fallen sharply. As of September 30 this year, global chemical M&A transactions totaled US$39 billion, most of which came from Dow Chemical’s acquisition of Rohm and Haas and BASF’s acquisition of Ciba’s refined transactions.
It is suitable for all-position welding with excellent technological performance, stable arc, less splashing and beautiful weld form. the weld metal has good intergranular corrosion resistance and low crack sensitivity.
According to a new research report issued by the KPMG consulting company in New York on November 9, the global industrial large-scale M&A transaction activity is expected to return to 2006 and 2007 levels within two years. This round of recovery of the global industrial M&A transaction will be driven by cash-rich buyers from China and the Middle East. The report said that in this round of recovery of mergers and acquisitions, Western companies will become targets for mergers and acquisitions, while companies in China and the Middle East will become buyers.