Nouryon has acquired Zhejiang Friend Chemical Co. (Friend), a Chinese producer of triethyl aluminum (TEAL) – a metal alkyl used in the production of high-volume polymers, such as polypropylene and polyethylene.
The company says the acquisition will substantially raise Nouryon’s global TEAL production and strengthen its position as a leading global producer of TEAL. The deal also makes the company the only truly global producer of metal alkyls.
The acquisition includes products, technology, customer lists and a manufacturing site in Jiaxing, located 100 kilometers southwest of Shanghai and the company aims to evaluate opportunities to expand operations at Jiaxing.
Friend Production Site
Friend’s approximately 60 employees will join Nouryon, including the company’s founder, Mr. HaiQing Zhang, who will serve as a senior consultant.
Zhang said :“When I decided to sell Friend, it was important to me that we were acquired by a strong organisation that had a promising future, and one that I could trust to treat my employees well. I am glad that we reached an agreement with Nouryon and I believe Friend is in good hands.”
Johan Landfors, Managing Director Polymer Chemistry at Nouryon, added: “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.”
Late last year, the company completed the acquisition of Brazil-based Polinox, South America’s leading producer of ketone peroxides, used in the production of various plastic and composite products.