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News Breaks
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July 27, 2011
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| 05:43 EDT |  | AKZOY |
| theflyonthewall.com: | AkzoNobel to acquire China's leading specialty surfactant producer | | AkzoNobel plans to further strengthen its leadership position in specialty surfactants while enhancing its manufacturing footprint in Asia by acquiring Boxing Oleochemicals. Boxing is the leading supplier of nitrile amines and derivatives in China and throughout Asia. Boxing had revenues in 2010 of approximately EUR100M. Its activities will be integrated into AkzoNobel's Surface Chemistry business, a global leader in the manufacture and supply of specialty surfactants, synthetic and bio-polymers additives, used as formulation ingredients and process aids in many applications ranging from home and personal care to asphalt road paving. Demand in Asia for amines and derivatives is being driven by population growth, expanding middle class, increased focus on sustainability and the build-up of infrastructure, notably in China and India. The completion of the transaction is subject to closing conditions, including the approval of the Chinese authorities. It is expected to be finalized in Q4 of 2011. :theflyonthewall.com |
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