President Liu Deshu and CFO Yang Lin were holding talks with Gary Cohen, Global President and CEO of Goldman Sachs Group.
On June 19, Mr. Liu Deshu， President and CEO of Sinochem Group, led a delegation to the United States, and had an in-depth exchange and communication with several international investment agencies, including Goldman Sachs, Citigroup and other partners, expressing the common wish to further deepen the cooperative relations and reaching broad consensus. Yang Lin, CEO of Sinochem Group, accompanied the visit.
At the meeting with Goldman Sachs and Citigroup, Mr. Liu expressed his appreciation for the support the two financial institutions have long given in terms of stock and bond issue, mergers and acquisitions advisory, and made full communication with them on the economic trends of the world and China, and the influence of the shale gas and other unconventional energy sources on the world energy situation and the related downstream industries and other topics. Both of them expressed the intent to continue to strengthen cooperation.
Sinochem delegation also visited several international investment agencies and made extensive and in-depth communications with international investors on the Company's strategy, operations and financial situation in 2011. International investors expressed satisfaction with the stable price movement of USD 2 billion bond in the secondary market issued by the Sinochem Hong Kong (Group) Company Limited under Sinochem Group at the end of 2010, and highly recognized Sinochem’s disclosure of company information in the form of annual non-deal roadshows as a non-listed company. Investors said that they were confident in our growth prospects.
Mr. Liu and the delegation, during their visit in the United States, specially went to the U.S. agro-chemical company UASC in Florida for investigation, to learn more about the latest news on the project closure. Mr. Liu acknowledged the dedicated spirit and the contribution to the cause of Sinochem Group of the project team. Mr. Liu pointed out that, the closure of the U.S. agro-chemical project is an example and an epitome of Sinochem Group to actively fulfill its social responsibilities and to be a responsible corporate citizen, and hoped that the project team would make determined and persistent efforts to deal with the follow-up issues and to establish an responsible global corporate image of Sinochem Group.
When the Company shut down the U.S. agro-chemical company, an affiliated fertilizer production company, due to market reasons in 2005, Sinochem Group, on the belief of being responsible for the local residents and the environment, spent huge sums of money in assuming all subsequent environmental responsibilities after the factory was closed, and carried out environmental monitoring and maintenance up to 50 years; some projects, even with the implementation standard beyond the requirements of local environmental protection departments, were highly praised by all walks of life in Fort Meade, Florida, USA where the project was located, and Sinochem Group set up a good image overseas for Chinese enterprises.
The visit further enhanced the understanding of international cooperation agencies and investors about Sinochem and laid a more solid foundation for the international capital to better serve the company in the future.