AkzoNobel has completed its acquisition of China’s leading specialty surfactant producer, Boxing Oleochemicals. Boxing is a supplier of nitrile amines and derivatives, which are used in a variety of industrial and consumer applications including fabric softeners, asphalt additives and hair conditioners.
The acquisition will strengthen AkzoNobel’s position in specialty surfactants while enhancing its manufacturing footprint in Asia.
Based in the province of Shandong, Boxing had revenues of approximately €100 million in 2010. Its activities will be integrated into AkzoNobel’s Surface Chemistry business unit.
“The acquisition of Boxing quickly positions us to respond to the increasing demand for amines and derivatives, with a third of the Asian demand coming from China alone,” said Bob Margevich, managing director of AkzoNobel surface chemistry. “It also reaffirms our commitment to locate production closer to our customers. Boxing is a perfect fit for our technology and its site provides us with a sound manufacturing platform.”
Over the next three years, AkzoNobel plans to enhance the process capabilities and increase capacity at the Boxing site by introducing state of the art manufacturing technology and implementing AkzoNobel health, safety and environmental standards.