Genoa, Italy –Italmatch has taken a stake in FRXpolymers which makes phosphorus-based flame retardants for the flexible polyurethane industry.
Italy-based Italmatch declined to quantify its investment. Sergio Iorio Italmatch's CEO said: 'We are excited to invest in FRX. The company owns a comprehensive patent estate allowing it to apply its technology to a wide range of applications. Italmatch is the world's largest producer of phosphonate and industrial derivatives.'
FRX is based in Boston, Massachusetts and employs 26 including those at its plant in Antwerp, Belgium. The company has a number of venture capital investors. These include BASF ventures. It makes Nofia polymeric phosphorus-based flame retardants.