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Sasol Divests Metal Alkyls Business to Nouryon
April 2, 2020
3 Min Read
South Africa-based chemicals firm Sasol has entered into an agreement to divest its merchant triethyl aluminum (TEAL) business to Dutch company Nouryon, an announcement said Thursday. TEAL is used in the production of plastics like polypropylene and polyethylene.
Nouryon, which recently purchased Chinese metal alkyls manufactuer Zhejiang Friend, said its acquisition is part of an effort to increase the firm’s presence in the metal alkyls market. The company also recently expanded a metal alkyls production facility in The Netherlands.
“Our ambition is to strengthen our leadership position in catalysts to the global polymer industry and this acquisition allows us to take the next step in that journey,” Johan Landfors, president of Technology Solutions at Nouryon, said in a statement. “The addition of this business will enable us to better serve our existing and new polymer customers.”
The companies anticipate that the deal will close in the second quarter of this year. Following the acquisition, Nouryon intends to transfer production to its site in Rotterdam, The Netherlands.
“We are very excited to take this next step in our growth strategy,” Landfors said. “We will continue to focus on building this part of our business and expect that we will make more bolt-on additions to our business in the future.”
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