Rhodia buys China’s Feixiang Chemicals
Amines and surfactants business to double within next five years
International chemical company Rhodia has acquired China’s leading supplier of amines and surfactants, Feixiang Chemicals for $489m. The move is said to present an opportunity for Rhodia to integrate speciality amine technologies into its Novecare business portfolio. According to Rhodia, the combination of its formulation expertise and end market applications with Feixiang’s speciality amines capabilities will reinforce its position in speciality surfactants.
Chairman and ceo Jean-Pierre Clamadieu said Rhodia intended to “double the size of the acquired business within the next five years” adding “Rhodia will generate around one third of its net sales in Asia” following the completion of the acquisition. Completion is subject to various closing conditions including the approval of the Chinese authorities but is expected to be finalised in the second half of 2010.