COURBEVOIE, France - Rhodia has announced plans to acquire Feixiang Chemicals (ZJG), a leading producer of amines and surfactants in China.
“This acquisition is a key step in the implementation of Rhodia’s profitable growth strategy. Through the integration of Feixiang Chemicals, Rhodia significantly strengthens its leadership positions in the surfactant business, while enhancing its footprint in the world’s fastest growing region,” said Rhodia Chairman and CEO Jean-Pierre Clamadieu. “We aim to double the size of the acquired business within the next five years. Following the completion of this acquisition, Rhodia will generate around one third of its net sales in Asia.”
The acquisition provides an opportunity for Rhodia to integrate specialty amine technologies into Novecare’s business portfolio. The combination of Rhodia’s formulation expertise and end-market applications with Feixiang Chemicals’ specialty amines capabilities will reinforce Rhodia’s position in specialty surfactants for the home and personal care, agrochemicals, oilfield, and industrial markets.
Headquartered in Zhangjiagang near Shanghai, Feixiang Chemicals employs about 650 people.
The completion of the transaction is subject to various customary closing conditions, including approval of the Chinese authorities. It is expected to be finalized in the second half 2010.
Rhodia to Acquire Chinese Producer of Amines and Surfactants
June 22, 2010