Hanson Family Holdings, the UK holding company owned by The Hon Robert Hanson (and his family), the heir of the late Lord Hanson, made its first major investment into China's industrial sector through the purchase of a significant minority interest in Sinojie (HK) Limited, a fine chemicals trading and procurement business with offices in Hong Kong and Shanghai.
Hanson acquired an initial 20% interest in Sinojie in January 2010, increased its holding to 50% in January 2012 and now has a controlling interest of 70%.
Abbin Huang, Director of Sinojie Hanson Limited said, "We have thrived significantly as part of the Hanson family and are very excited by the ongoing outlook for Sinojie Hanson. Its business model is built on identifying, negotiating and contracting with the industry's most competitive producers in an increasingly globalized single market. Cost pressures will drive the developed world's leading pharmaceutical and chemical groups to search out alternative suppliers, and Sinojie Hanson will be there to help."
The Hon. Robert Hanson, Chairman of Hanson Family Holdings said, "Significant synergies have emerged between Hanson's existing businesses and Sinojie Hanson's operations, which occupy strongly complementary positions in the industrial chemicals supply chain. The increase in our holding shows our confidence in Sinojie Hanson and marks a further step in Hanson Family Holdings plans to grow its emerging market operations around the core logistics business. It expects to make further moves over the coming months.
Background to Sinojie Hanson:
Sinojie was founded in 2005 by the active principals: Ray Overton, a former technical and commercial executive with Zeneca and Avecia, who relocated to Shanghai to set up the business; Abbin Huang who has worked in the fine chemical market in China for many years.
Sinojie Hanson's principal business is sourcing specialist industrial chemicals from manufacturers in China for end-user companies in the UK and continental Europe. Its customer base includes major multinational pharmaceutical, agrichemical and biomedical companies.
Background to Hanson Family Holdings:
The assets controlled by Hanson Family Holdings include Hanson Logistics founded in 1848 to provide transportation of wool from Huddersfield to the cottage weavers in the Pennines and beyond. Still based in Yorkshire Hanson Logistics has extensive warehousing and transportation operations throughout the UK, including a specialist hazardous chemicals capability for the storage, repack and solution sampling of such materials. In addition Hanson Logistics acts as the UK arm for Sinojie for specialist warehousing, chemical mixing, repacking and onward shipments. The Hanson Family Holdings shares in Sinojie Hanson are actually owned by Hanson China partners (controlled by the Hanson family). The Hanson stable also includes Hanson Asset Management, niche investment manager and corporate finance boutique of which Robert Hanson is the Chairman.