said it acquired Zhejiang Friend Chemical Co. (Friend), the largest Chinese producer of triethyl aluminum (TEAL) – a metal alkyl used in the production of high-volume polymers, such as polypropylene and polyethylene.
“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, 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.