Shell acquires China's Tongyi lubricant brand
Afp, Beijing
Shell China has secured a majority stake in Tongyi, the country's third largest lubricant manufacturer, to raise its share of the fast-changing market, the Anglo-Dutch group announced Saturday. Shell China Holdings acquired 75 percent of the two companies which produce and market the product, the statement said. Tongyi has been China's leading independent lubricant make, standing up to the might of Sinopec's Changcheng and CNPC's Kunlun.
|
|
