Nouryon Acquires Major TEAL Producer

THURSDAY, AUGUST 8, 2019


Specialty chemicals company Nouryon recently announced that it has completed the acquisition of Zhejiang Friend Chemical Co.—reportedly the largest Chinese producer of triethyl aluminum (TEAL).

TEAL is a metal alkyl used in the production of high-volume polymers such as polypropylene and polyethylene.

The company says that the acquisition will substantially raise its global TEAL production and strengthen its position as a leading global producer. It will also make 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 (621 miles) southwest of Shanghai. The company will also evaluate opportunities to expand operations at Jiaxing. 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.”

Financial terms for the deal were not disclosed.

   

Tagged categories: Acquisitions; AS; Asia Pacific; Coating chemistry; Construction chemicals; EMEA (Europe, Middle East and Africa); EU; Good Technical Practice; Nouryon; Polyethylene; Polypropylene

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