Completing an agreement first announced in July of 2011, AkzoNobel has concluded its acquisition of Chinese specialty surfactant producer Boxing Oleochemicals. Boxing, which is based in Shandong, China, supplies nitrile amines and derivatives. Its activities will be integrated into AkzoNobel’s Surface Chemistry business.
According to AkzoNobel, the agreement will strengthen its position in the specialty surfactants market and enhance its manufacturing presence in Asia. Demand for amines and derivatives in the region is being driven by population growth, the expanding middle class, increased focus on sustainability, and the build-up of infrastructure.
AkzoNobel currently employs over 6,700 people in China, with revenue in 2010 totaling €1.3 billion.
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