Nouryon acquires China’s largest producer of triethyl aluminium
Nouryon acquired Zhejiang Friend Chemical Co. (Friend), the largest producer of triethyl aluminium (TEAL) in China. TEAL is a metal alkyl used in the production of polypropylene and polyethylene.
With this acquisition, Nouryon becomes the only global producer of metal alkyls. The deal will also raise the company’s global TEAL production.
Johan Landfors, Managing Director Polymer Chemistry at Nouryon said: “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.”
The acquisition includes products, technology, customer lists and a manufacturing site in Jiaxing near Shanghai. Landfors also plans to expand operations at Jiaxing.
Friend’s founder HaiQing Zhang said: “When I decided to sell Friend, it was important to me that we were acquired by a strong organization 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.”
source: Alcircle
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