Dragon Aromatics has made significant strides in expanding its business through strategic acquisitions. The company acquired a fragrance manufacturing facility in 2018, which has increased its production capacity and allowed for the introduction of new products.
This acquisition has enabled Dragon Aromatics to tap into new markets and expand its customer base. The company's revenue has seen a notable increase since the acquisition.
Dragon Aromatics' business strategy is centered around innovation and customer satisfaction. The company has invested heavily in research and development, resulting in the creation of unique and high-quality fragrances.
By focusing on customer needs and preferences, Dragon Aromatics has built a loyal customer base and established itself as a leader in the industry.
A unique perspective: Sizzle Acquisition
Business and Acquisitions
Sinopec is in advanced talks to take a controlling stake in Dragon Aromatics, which operates one of China's biggest chemical plants.
The discussions come after a second major fire at the plant in less than two years, and local authorities are pushing for Sinopec to participate before allowing the plant to reopen.
Sinopec could take up to 80 percent of the stake in Dragon Aromatics, according to sources with knowledge of the matter.
A second fire at the $3 billion plant in Fujian has made local authorities wary of allowing it to resume operations without Sinopec's involvement.
Without Sinopec's participation, the plant won't be allowed to resume operations, sources said.
Location
The Dragon Aromatics petrochemical plant is located in the port of Gulei, Zhangpu County, China's southernmost Fujian province.
Gulei is situated within Dongshan Bay, on a peninsula formed by the Zhang River estuary at the Taiwan Strait of the Pacific ocean.
Gulei peninsula was once famous for carrot production, and the area is also used for flower and fruit production.
The port of Gulei is a significant location for the petrochemical plant, providing easy access to shipping and trade.
Sinopec to Buy $3bn Chemical Plant
Sinopec Corp, a state-owned energy giant, is in advanced talks to buy an 80% stake in Dragon Aromatics, a petrochemical firm.
The discussions come after Dragon Aromatics suffered a second major fire in less than two years at its $3 billion plant in Fujian.
Local authorities want Sinopec to participate before allowing the plant to reopen, showing Beijing's pressure on provinces to ensure better industrial safety standards.
The plant has a capacity to produce 1.6 million metric tons a year of paraxylene, a chemical used to make polyester fiber and plastics.
Sinopec could take up to 80% of the stake, according to sources.
Sinopec spokesman Lu Dapeng declined to comment on the matter.
Dragon Aromatics is owned by Taiwan's Xianglu Group and was forced to shut the plant after the fire in April.
The plant is located on Gulei, a peninsular part of Zhangzhou city, where state-owned firms including Sinopec and China National Offshore Oil Corp had previously tried to build petrochemical plants.
A senior Dragon Aromatics official said the firm is trying every means to resume the plant's production as soon as possible.
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