One of the largest global paints and coatings companies and a major specialty chemicals producer, AkzoNobel has planned to acquire Boxing Oleochemicals and further reinforce its leadership status in specialty surfactants.
Boxing Oleochemicals, headquartered in Shandong province, China, is a supplier of nitrile amines and derivatives across Asia. Once transaction is completed, the business activities of Boxing Oleochemicals will be merged into the Surface Chemistry segment of AkzoNobel. Surface Chemistry business unit manufactures and supplies bio-polymers additives, synthetic additives and specialty surfactants for applications varying from home and personal care products to asphalt road paving. The Asian demand for amines and derivatives, especially in China and India is driven by build-up of infrastructure, greater focus on sustainability, growing middle class and population growth.
Specialty Chemicals’ Executive Committee member, Rob Frohn noted that the acquisition of Boxing Oleochemicals will provide a great opportunity for the company to speed up growth and development into the Asian market and supports AkzoNobel's commitment to set up production closer to its clients. In addition, the purchase will offer a strong local manufacturing capability in the region. The acquisition is expected to be confirmed at the end of 2011.
AkzoNobel has planned to improve its process capabilities and increase Shandong site’s manufacturing capacity to meet the increasing demand for amines and derivatives in Asia. The company will also launch new products into the market.
Source: http://www.akzonobel.com/