Amsterdam, the Netherlands -- AkzoNobel said 10 Jan that has completed its purchase of Boxing Oleochemical, which it describes as "China's leading specialty surfactant producer."
Boxing is a leading supplier of nitrile amines and derivatives, which are used in a variety of industrial and consumer applications including fabric softeners, asphalt additives, and hair conditioners, said Akzo's announcement..
Adding the Chinese producer will strengthen AkzoNobel's leadership in speciality surfactants and expand its manufacturing footprint in Asia.
Boxing, which was established in 1993 and based in the province of Shandong, had revenues in 2010 of about Euro 100 million ($128 million); its activities will be integrated into AkzoNobel's Surface Chemistry business.
AkzoNobel commented that Asian demand for amines and derivatives is being driven by population growth, an expanding middle class, increased focus on sustainability and the build-up of infrastructure, notably in China and India.