The general manager of Carlyle Group’s Asia Fund, Luo Yi, said it has invested US$87 million in SINORGCHEM Group, China's largest producer of anti-aging agents for rubber, the China Securities Journal
reported. Established in 1999, SINORGCHEM employs 1,400 people and is capable of rolling out 45,000 tons of PPD and 55,000 tons of 4-ADPA – two key ingredients for making the agent – every year. Demand for rubber, particularly for anti-aging rubber, has grown in China in recent years as the burgeoning auto market has fuelled immense demand for tires. The Carlyle Group is one of the world's largest private investment firms with more than $80 billion under management. Established in 1998, the Carlyle Asia Fund has so far invested US$3.5 billion in minority stakes in companies in non-Japan Asia.