10 Aug 2006 -
Akzo Nobel's Surfactants business has formed a strategic alliance with Feixiang Chemicals (Zhangjiagang) Company, Ltd. Based in Jiangsu Province, Feixiang Chemicals manufactures various chemical products, including a full range of fatty amine and surfactant products with a total capacity of around 80,000 tons per year. The new 50/50 joint venture - which is subject to approval by the Chinese authorities - expects to generate substantial additional sales in mainland China. Akzo Nobel will be the exclusive distributor for most of Feixiang Chemicals' specialty surfactants outside of China.
"This alliance is fully consistent with our Asian growth strategy and will pave the way for increased penetration into the rapidly growing Chinese market," said Leif Darner, the Akzo Nobel Board member responsible for Chemicals. "We have a solid foothold in the region. Asia - and China in particular - are key investment targets for our ongoing activities. We will continue to identify opportunities to strengthen our worldwide positions in our defined core market segments."
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