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Rhodia has grown its surfactant business with the acquisition of Feixang Chemicals, a China-based producer of amines and surfactants.
According to Rhodia, in addition to strengthening its surfactant business, the acquisition will also grow its presence in China. Following the acquisition, Rhodia plans to generate one third of its net sales in Asia. The company also plans to integrate the amine technologies into its Novecare’s portfolio.
The acquisition reportedly will strengthen Rhodia's specialty surfactant expertise in home care, personal care, agrochemicals, oilfield and industrial markets.
The acquisition value is US $489 million. The completion of the transaction is subject to various customary closing conditions, including approval of the Chinese authorities. It is expected to be finalized in the second half of 2010.