Nouryon acquired Zhejiang Friend Chemical Co. (Friend), the largest producer of triethyl aluminium (TEAL) in China. TEAL is a metal alkyl used in the production of polypropylene and polyethylene.
With this acquisition, Nouryon becomes the only global producer of metal alkyls. The deal will also raise the company’s global TEAL production.
Johan Landfors, Managing Director Polymer Chemistry at Nouryon said: “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.”
The acquisition includes products, technology, customer lists and a manufacturing site in Jiaxing near Shanghai. Landfors also plans to expand operations at Jiaxing.
Friend’s founder HaiQing Zhang said: “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. I am glad that we reached an agreement with Nouryon and I believe Friend is in good hands.”
Almex USA Inc. has announced its selection as the technology and equipment provider for the future casthouse of Western Extrusions Corporation of Carrollton, Texas, USA. Western is one of the leading independent aluminum extruders in North America and its Carrollton facility among the largest in America at a single site.
According to a recent report, Leicester City Council has teamed up with Alupro, the aluminium packaging recycling organisation, to help residents recycle more of their aluminium foil trays and wrapping foil.
Top automotive component manufacturing companies are reportedly entering the aluminium forging business to start making triple clamps and active clamps used for the manufacture of inverted front forks. The potential is to reach INR 125 crore within three years after the start of supplies. The news came after Anurag Jain, managing director of Endurance Technologies, said on Saturday, August 17.
China's apparent consumption of crude steel over January-July rose 8.9% on year to 526.76 million mt and will be robust enough to absorb the surge in domestic steel production this year, according to S&P Global Platts estimates.
SteelMint in conversation with trade sources indicated that low grade iron ore fines export price have come down sharply following global trend. SteelMint’s assessment for low grade (Fe 57%) iron ore fines is around USD 55-60/MT, CFR China down by USD 10/MT as against being USD 65/MT, CFR China a week before. In a month’s time, low grade fines export assessment has come down by around USD 30/MT.
As per data released by National Bureau of Statistics (NBS) China’s crude steel output reduces by 3% on monthly basis to 85.22 MnT in Jul’19 in comparison with 87.53 MnT in Jun’19.