OREANDA-NEWS. August 17, 2012. GMG, which is controlled by Sinochem International Corporation and listed in Singapore, closed the equity deals in Brussels with the Belgian-based SIAT. GMG purchased 35% of SIAT’s stock rights for EUR0.19256 billion, making it the largest project that Chinese enterprises directly invest in Belgium, reported the press-centre of Sinochem. 

Pan Zhengyi, Vice President of Sinochem Group and Chairman of Sinochem International addressed the ceremony, while Zhang Zenggen, General Manager of Sinochem International and Chairman of GMG signed related transaction documents. The ceremony was also attended by Herman Van Rompuy, President of the European Council, Liao Liqiang, China’s Ambassador to Belgium, and the envoys of African countries (such countries refers to those in which SIAT develop its business) in Belgium.

SIAT is mainly engaged in the planting, processing, production and sales of natural rubber and oil palm. Its assets are mainly distributed in Cote d’Ivoire, Ghana, Nigeria and Gabon in West Africa, with a plantation of 40,000 hectares, land reserve zone of 100,000 hectares, an annual output of 40,000 tons of high-quality natural rubbers and 70,000 tons of palm oil, and an annual profit of over EUR50 million, thereby creating enormous synthetic values with the rubber industry of Sinochem International in Africa.