In the afternoon of April 16^th at Quanzhou office building, FREP president Mr. Joost Emmen and SSPC president Mr. Ding Chunsheng signed the cooperation agreement of 2019 for jointly expanding the diesel market in Fujian Province in a win-win manner, which marked a new stage of cooperation between FREP and SSPC.

At the meeting, Mr. Joost Emmen welcomed Mr. Ding Chunsheng and his group, and expressed his pleasure with the signing of the agreement. He commented that with the support from shareholders, FREP and SSPC conducted in-depth communication and negotiation, and finally reached an agreement. He would like to take the opportunity to thank all relevant personnel for their efforts.

He compared the cooperation between production and sales to cooking. He said that by simply putting food and seasoning together, we may not make tasty dish or meet the requirements of our customers. Only with joint efforts of both parties, just like cook diligently, could we make “delicious food” catering for market demand and achieve a win-win situation in production and sales.

He commented that as market competition getting fierce, the signing of this cooperation agreement would provide a good platform for future integrated operation of the two sides. He hoped the two companies enhance understanding and stand together in respond to market challenges, and maximize the profits of both parties.

Mr. Ding Chunsheng agreed with the opinions of Mr. Joost Emmen. He said that as the old Chinese saying went “unity is strength”. FREP was a production enterprise while SSPC was a sales enterprise. The two sides share common goals and integrated production and sales. As long as the two sides cooperated in good faith, we could achieve mutual benefit and win-win results, and create more happy surprises.

OOPs from both parties also discussed other business cooperation oppotunities. For example, more high quality and high grade products from FREP after startup of Alkylation unit, this would create new opportunities and challenges to both parties.

After the meeting, the two sides presented gifts to each other and took a group photo.

FREP and SSPC then held a basketball friendship match at the Strait Sports Center to further enhance understanding and consensus.

The signing of the cooperation agreement would play a positive role in debottlenecking FREP capacity utilization, increasing FREP diesel production, improving SSPC market competitiveness and realizing mutual benefit and win-win results. (Chen Cong, Zhang Lei)