Nouryon Acquires Leading Chinese Metal Alkyl Manufacturer

Nouryon Acquires Leading Chinese TEAL Producer Nouryon has acquired Zhejiang Friend Chemical Co. (Friend), the largest Chinese producer of triethyl aluminium (TEAL), a metallic alkyl used in the production of high-volume polymers such as polyethylene and polypropylene. The acquisition will significantly expand Nouryon's global TEAL production and strengthen its position as a leading TEAL producer. The deal also establishes the company as the sole global metallic alkyl producer worldwide. Johan Landfors, General Manager Chemistry Polymers at Nouryon, said: "Friend has a strong reputation in the industry and with this acquisition, we will have production facilities in Asia, Europe and North America that enable us to serve our customers better in a rapidly growing market." The acquisition includes Friend's products, technology, customer lists and a production facility located in Jiaxing, approximately 100 kilometres southwest of Shanghai. Landfors noted that the company will also evaluate opportunities to expand its operations in Jiaxing. Friend's approximately 60 employees, including the company's founder HaiQing Zhang, who will serve as senior advisor, will join Nouryon. Zhang said: "When I decided to sell Friend, it was important to me that we be acquired by a strong organization with a promising future and by someone I could trust to treat our employees well. I am pleased we have reached an agreement with Nouryon and believe Friend is in good hands." This deal marks the second acquisition Nouryon has made to strengthen its position serving the polymer industry. At the end of last year, the company acquired Polinox, a Brazil-based leading South American producer of ketone peroxide used in the manufacture of various plastic and composite products. Charlie Shaver, CEO of Nouryon, said: "We will continue to support our growth plans with acquisitions aligned with our strategic objectives."