rongsheng petrochemical wiki brands

RONGSHENG PETROCHEMICAL CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of chemicals and chemical fibers. The Company’s main products include aromatics, phosphotungstic acid (PTA), polyethylene terephthalate (PET) chips, terylene pre-oriented yarns (POYs), terylene fully drawn yarns (FDYs) and terylene draw textured yarns (DTYs), among others. The Company distributes its products in domestic market and to overseas markets.

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SINGAPORE, Jun 2, 2022 (China Knowledge) – China’s leading chemical company Rongsheng Petrochemical (002493) has moved up two notches this year to rank the 8th place on Top 10 Most Valuable Chemicals Brands. It is the only Chinese chemical brand that placed in the global top list that include multinational companies like BASF, SABIC, LG Chem, Dow, Linde, LyondellBasel, Asahi Kasei, Mitsubishi Chemical and Shin-Etsu.

With brand value worth US$2.3 bln, up 42.9% year on year, Rongsheng Petrochemical has become the most valuable Chinese brand in this year’s Chemical 25 ranking. Besides brand value, Brand Finance, also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. In accordance to Rongsheng Petrochemical’s evaluation, its brand’s strength index moved up from an A+ rating in 2021 to an AA- rating in 2022.

What differentiate Rongsheng Petrochemical with domestic and foreign peers is the company’s emphasis and commitment on sustainability and green development. For example, it purifies carbon dioxide in its refining-petrochemical integrated complex, and using it to produce downstream chemical products. Renewal energy and material wise it is currently the largest supplier of solar-grade EVA for the photovoltaic industry as well as the largest supplier of food grade recycled PET bottle flakes in China.

In addition to its brand value Rongsheng Holding as a group is also listed in the Fortune Global 500 in terms of sales revenue. Last year the Chinese giant, as a group, was placed 255th with USD 44.7 bln revenue achieved in 2020. The latest Fortune Global 500 in 2022 to be published next month is expected to elevate many placings due to its whopping increase in revenue last year.

Zhejiang Petrochemical was established on June 2015 as a limited partnership between Rongsheng Petrochemical Co., Ltd., Juhua Group, Zhejiang Tongkun Holding Group Co., Ltd., and Zhoushan Ocean Comprehensive Development and Investment Co., Ltd. It is a private holding, state-owned joint-stock company. The company is mainly engaged in crude oil import and export, oil refining, petrochemical production, and the sales, storage, and transportation of its products.

This new, large-scale integrated refining and petrochemical complex that is being built by Zhejiang Petrochemical will eventually have an overall refining capacity of 40 million tons per year. The facilities that are being built include a crude oil terminal, oil refining and petrochemical production process units, storage tanks, and transport and service installations. The units constructed in the first phase will have the capacity to refine 20 million tons per year of crude oil and produce 1.4 million tons per year of ethylene. The first phase of this project is expected to be completed and put into production by the end of December 2018.