Nouryon acquires Chinese metal alkyls producer Zhejiang Friend

Nouryon acquires Chinese metal alkyls producer Zhejiang Friend

10:00 AM, 25th July 2019
Nouryon logo

AMSTERDAM, NETHERLANDS: Nouryon has acquired Zhejiang Friend Chemical Co. (Friend), the largest Chinese producer of triethyl aluminium (TEAL).

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

The acquisition will substantially raise Nouryon’s global TEAL production and strengthen its position as a leading global producer of TEAL. The deal also makes the company the only truly global producer of metal alkyls.

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, Mr. HaiQing Zhang, who will serve as a senior consultant.

“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.

“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. Iam glad that we reached an agreement with Nouryon and I believe Friend is in good hands,” added HaiQing Zhang, Founder of Friend.

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