Beijing — China National Chemical Corp. is selling 50 percent stakes in two units that make plastics-related chemicals by listing them on the China Beijing Equity Exchange.
ChemChina's China National Chemical Equipment Co. Ltd. unit is raising $21 million by selling shares in isocyanate maker Bluestar (Tianjin) Chemical and petrochemical development and sales company Fuzhou Bluestar Chemical.
Both subsidiaries lost money in 2014. Bluestar (Tianjin) currently employs 150.
ChemChina has been on a buying spree overseas. Earlier in January it announced plans to buy Munich, Germany-based machinery maker KraussMaffei Group.