Chemical firm Nouryon has completed its previously announced acquisition of the carboxymethyl cellulose (CMC) business of J.M. Huber Corporation. The transaction will significantly broaden Nouryon’s portfolio of products in CMC, a sustainable, bio-based water-soluble polymer used as a thickener, binder, stabiliser and film former.
The acquisition underlines Nouryon’s strategy of investing to develop a leading position in attractive growth markets. CMC is used in a broad range of end markets, including home and personal care, buildings and infrastructure, food, pharmaceuticals, and packaging.
The newly-acquired business manufactures a complete line of CMC grades and serves customers in over 80 countries, generating sales of around EUR135 million. It includes a world-class manufacturing plant and advanced R&D facility located in Äänekoski, Finland. The business’s 248 employees will transfer to Nouryon.
“We are excited by the opportunities that this high-quality business provides,” said Charlie Shaver, Chairman and CEO of Nouryon. “With a range of products that complements our existing CMC portfolio, it allows us to offer our current and new customers a significantly broader set of bio-based solutions and confirms our commitment to investing in sustainable growth platforms. We are also pleased to welcome the employees of this business into the Nouryon family.”
It is the latest in a series of acquisitions by Nouryon to accelerate growth. Last year, the company acquired Zhejiang Friend Chemical Co., the largest Chinese producer of triethyl aluminum (TEAL), a key polymer catalyst. Earlier this year, Nouryon also acquired the merchant TEAL business of Sasol.