Nouryon Boosts Metal Alkyls with China Buy
Nouryon has acquired Zhejiang Friend Chemical, China’s largest producer of triethyl aluminum (TEAL) – a metal alkyl used in the production of high-volume polymers, such as PP and PE. Financial terms of the transaction were not disclosed.
The Dutch company said the acquisition substantially raises its global TEAL production and strengthens its position as a leading global producer, as well as making it the “only truly global producer of metal alkyls.”
The deal includes products, technology, customer lists and a manufacturing site in Jiaxing, located 100 kilometers southwest of Shanghai. About 60 of Friend’s employees will join Nouryon, including founder HaiQing Zhang, who will serve as a senior consultant.
“Friend has a great reputation in the industry and with this acquisition we’ll now have manufacturing facilities in Asia, Europe and North America, enabling us to better serve our customers in this fast-growing market,” said Johan Landfors, Nouryon’s managing director polymer chemistry. The company will also evaluate opportunities to expand operations at Jiaxing, Landfors added.
The acquisition is Nouryon’s second move to boost its position in serving the polymer industry, having purchased Brazil’s Polinox in September 2018. Polinox is South America’s leading producer of ketone peroxides, which are used in the production of various plastic and composite products.
“We will continue to support our growth plans with strategic, bolt-on acquisitions,” stated Nouryon’s CEO Charlie Shaver.