Nouryon recently announced that it has acquired Zhejiang Friend Chemical Co. (Friend). Friend is reportedly the largest China-based producer of triethyl aluminum (TEAL), which is a metal alkyl used in the production of high-volume polymers such as polypropylene and polyethylene. According to Nouryon, the acquisition will substantially raise its global TEAL production and strengthen its position as a leading global producer of TEAL.
“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 for Polymer Chemistry at Nouryon.
The acquisition includes products, technology, customer lists, and a manufacturing site in Jiaxing, located 100 km southwest of Shanghai. The company will also evaluate opportunities to expand operations at Jiaxing, Landfors said. Friend’s approximately 60 employees will join Nouryon, including the company’s founder, HaiQing Zhang, who will serve as a senior consultant.
“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,” Zhang said. “I am glad that we reached an agreement with Nouryon and I believe Friend is in good hands.”
For more information, visit www.nouryon.com.