Nouryon has entered into an agreement to acquire the merchant triethyl aluminum (TEAL) business of Sasol, including its specialty fleet of returnable cylinders.
TEAL is a metal alkyl essential in the production of high-volume plastics including polypropylene and polyethylene.
The acquisition is the latest in a series of moves Nouryon has made to significantly increase its footprint in the metal alkyls market, following an expansion of production capacity at its Rotterdam site and the acquisition of metal alkyls producer Zhejiang Friend in China.
“Our ambition is to strengthen our leadership position in catalysts to the global polymer industry and this acquisition allows us to take the next step in that journey,” said Johan Landfors, President of Technology Solutions at Nouryon. “The addition of this business will enable us to better serve our existing and new polymer customers.”
The transaction is expected to be finalized during the second quarter, after which Nouryon will gradually move production to its site in Rotterdam.
“We are very excited to take this next step in our growth strategy,” said Landfors. “We will continue to focus on building this part of our business and expect that we will make more bolt-on additions to our business in the future.”
By Mary Page Bailey
Source: Chemical Engineering
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
