Nouryon Acquires Zhejiang Friend Chemical Co.
Nouryon has acquired Zhejiang Friend Chemical Co. (Friend). Friend is reportedly the largest Chinese producer of triethyl aluminum (TEAL), a metal alkyl used in the production of high-volume polymers, such as polypropylene and polyethylene.
According to Nouryon, 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.
“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, managing director Polymer Chemistry at Nouryon.
The acquisition includes products, technology, customer lists, and a manufacturing site in Jiaxing, located 100 kilometers southwest of Shanghai. The company will also evaluate opportunities to expand operations at Jiaxing, according to Landfors. Friend’s approximately 60 employees will join Nouryon, including the company’s founder, HaiQing Zhang, who will serve as a senior consultant.
This acquisition is Nouryon’s second recent deal to strengthen its position serving the polymer industry, the company stated. 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.