The Service of the Commission for the Protection of Competition on the 7th of July 2011 received on behalf of the companies Henkel Hong Kong Holding Ltd and Tiande Chemical Holdings Ltd notification of a proposed concentration according to Article 13 of the Control of Concentration between Enterprises Law (Number 22(I)/99), concerning the establishment of a new company which will establish and hold the interests and investments in WFOE and will be its sole shareholder.
Henkel Hong Kong Holding Ltd is active through the Henkel Group of Companies in the sale, distribution, manufacturing, research of detergents, cosmetics and adhesive technologies in the Republic of Cyprus and abroad.
Tiande Chemical Holdings Ltd is active in the sale, distribution, manufacturing, research of chemical products, which are used in the composition of pharmaceutical products, agricultural chemicals, adhesive products, sealants, coating materials and air fresheners, such as Cyanoactate, Malonates, Ethanol, Methanol, tert-Butanol, Sodium Cyanide solution, iso-Butylene, PIB. The said company does not engage in commercial activities in the Republic of Cyprus.
WFOE will engage in the business of manufacturing, marketing and wholesale of bulk cyanoacrylate monomer.