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British specialty chemical producer Croda will pay $58 million for a 65% stake in Sichuan Sipo Chemical, a southwestern China producer of fatty acids, primary amides, and specialty esters for lubricants and polymers. Sichuan Forever Holding, currently the main owner of Sipo, will remain on board as a minority partner with a 35% stake. Set up in 1993, Sipo employs about 300 people. Croda notes that the Chinese firm upgraded its facilities in 2011.
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