Henan Billions ceremonially completed the merger with Lomon* at a press conference in Zhengzhou on October 28th, 2016. The merged company will be known as Lomon Billions, with headquarters at Jiaozuo, Henan Province, China. Xu Gang, the current Henan Billions Chairman, will be Chairman of Lomon Billions.
Lomon Billions will have four established production bases in China (Jiaozuo, Henan; Deyang, Sichuan; Xiangyang, Hubei; Panzhihua, Sichuan) and becomes the only fully integrated company in China with both chloride and sulfate process TiO2.
The merged company has a total annual production capacity of over 600,000 tonnes and is ranked 4th in the world and 1st in Asia in terms of TiO2 production capacity.
The combined sales volume of Henan Billions and Lomon in 2015 was 560,000 tonnes: 310,000 tonnes domestic and 250,000 tonnes export, with the export volume representing 45.7% of the total TiO2 export volume from China.
This merger broke the record of capital refinancing in Henan Province and creates a listed company with market value above 30 billion RMB.
*Sichuan Lomon Titanium Industry Co., Ltd.