# Polyrocks Chemical acquires 55% stake in Guangdong Guanzhen Technology

Polyrocks Chemical (688669.SH) acquired a 55% stake in Guangdong Guanzhen Technology for CNY 132 million, becoming the controlling shareholder. The acquisition was announced on July 1, 2021, and completed with a business registration change on September 14, 2021.

- Type: Acquisition
- Announced: 2021-07-01
- Where: China
- Value: $20.4M (132.0M CNY)
- Status: completed
- Capacity: annual capacity of about 43,500 tons of breathable film
- Products: breathable film, biodegradable nonwoven fabric
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Polyrocks Chemical](https://endata.com/companies/58622.md) (acquirer)
- [Guangdong Guanzhen Technology](https://endata.com/companies/58623.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/592633.html), 2021-11-03: "通过本次收购，公司将全资子公司聚石化学(长沙)有限公司与冠臻科技进行产能合并、资源整合，形成年产能约4.35万吨的规模化量产"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.