King Cheung, Chairman of the Board of Cedar Holdings led a delegation to Germany for visiting Evonik, European Economic Senate (EES) and the Organizing Committee of the World Hidden Champion Summit.
King Cheung visited the headquarters of Evonik on 25 November 2019 and had a discussion with Christian Kullmann , Chairman of the Executive Board of Evonik, Dr. Claus Rettig, Chairman of the Board of Management, Evonik Resource Efficiency GmbH and Dr. Joachim Dahm, Chairman of the Management Board, Evonik Performance Materials GmbH.
Photo: King Cheung met with leaders of Evonik.
Evonik is one of the world's largest speciality chemicals companies, dominating the world's market of many high-end chemical products. It has been working with Cedar Holdings on some projects. King Cheung reached a consensus with Evonik's senior management team over the progress of HPPO project, a cooperation between Evonik and Qixiang Tengda, the core chemical business under Cedar Holdings. They also agreed to promote the other cooperation projects.
They also had an exchange of opinions and solutions on the global uncertainty, expressed their willingness to strengthen the cooperation and defend against the risks as well as pursuit win-win results. The two companies will establish a long-term, stable and all-dimensional strategic cooperation. Evonik will give full play to its technological strengths in the high-end chemical sector while Cedar Holdings will make full use its advantages in production and management in the chemical sector as well as the broad market in China. In doing so, they expect to share the opportunities from the cooperation and the fruits of economic development in Germany and China.
Photo: King Cheung held talks with Evonik's senior management
King Cheung met with Walter Doring, President of European Economic Senate (EES), Chairman of the Organizing Committee of World Hidden Champion Summit, Yang Ming, Senator of Hessen State of Germany, Head of DEZ, Diete Haerthe, Founder of DEZ, Jumas Medoff, Vice Mayor of Frankfurt, Wilfried Wolf, Exutive Chairman of German-Asia Pacific Economic and Trade Association on November 26 of the year. King Cheung also talked to over 20 representatives form German corporations including Volkswagen and Würth.
Photo: King Cheung held talks with Walter Doring, President of European Union Economic Senate, Chairman of the Organizing Committee of World Hidden Champion Summit
Walter Doring welcomed King Cheung and his delegation. He expressed the intention on behalf of European Economic Senate and World Hidden Champion Summit to work with Cedar Holdings. He hoped that this cooperation will encourage European companies to invest and do business in China. Meanwhile, efforts will be made to create sound business environment, favourable conditions in industrial park construction and exhibition services for these companies.
King Cheung would like to help European high-tech companies to set up operation in China as he believes their presence here will help with the transformation and upgrade of Chinese companies and local industrial structure.
Representatives from German "hidden champion" companies shared with King Cheung their competitive technologies and products as well as their intentions to work with Cedar Holdings further down the road and invest in China.
As an important member of China-German Economic Advisory Committee (DCBWA), Cedar Holdings has been working on China-Germany economic and trade cooperation, tapping into its advantages of chemical industry and further cooperation with top-notched German corporations.
In May 2019, King Cheung visited HQ of Evonik Germany and had an in-depth discussion with the business leaders from Evonik over project cooperation. In July, Qixiang Tengda signed the HPPO process licensing agreement and technology service agreement with Evonik and ThyssenKrupp from Germany. According to the agreements, Qixiang Tengda' acquired this cutting-edge technology for its new PO project with a planned annual output of 300,000 mt. Also worthy of attention is that Qixiang Tengda brought in HP (hydrogen peroxide) technology solely owned by Evonik for the exclusive supply of PO plant, which is the first of its kind in China.
In September 2019, King Cheung attended China-German Economic Advisory Committee (DCBWA) and gave a speech on behalf of Chinese companies in the Sixth Plenary Session of DCBWA, also known as CEO Roundtable Discussion. In the discussion, he said that Cedar Holdings would strengthen its all-rounded cooperative relationship with top-notched German companies, leverage their respective strengths, conducts deep cooperation for mutually beneficial and win-win result in areas such as technology, production and capital. Cedar Holdings planned to take a stake in German new chemical materials enterprises and high-end manufacturers featuring cutting-edge technology, as well as join forces with German companies in developing China's chemical market.
(Source: Official website of Cedar Holdings)
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