AkzoNobel completes acquisition of Chinese surfactants producer

The acquisition will strengthen AkzoNobel's position in speciality surfactants while enhancing its manufacturing footprint in Asia. This transaction was first announced on 27 July 2011.

Established in 1993 and based in the province of Shandong, Boxing Oleochemicals had revenues in 2010 of approximately EUR 100 million; its activities will be integrated into AkzoNobel's Surface Chemistry business.

AkzoNobel is a global manufacturer and supplier of speciality surfactants as well as synthetic and bio-polymers additives, all of which are used as formulation ingredients and process aids in many applications ranging from home and personal care to asphalt road paving.

AkzoNobel currently employs over 6,700 people in China, with 2010 revenue totalling EUR 1.3 billion. The majority of revenue is generated from local demand. The company's ambition is to achieve revenue of USD 3 billion in China by 2015.