Rhodia To Buy Chinese Surfactants Firm

Rhodia has agreed to acquire Feixiang Chemicals, a Chinese maker of fatty amines and surfactants, in a deal valued at $489 million. With headquarters in Zhangjiagang, near Shanghai, Feixiang has annual sales of about $250 million and has been growing at 20% per year. Rhodia says Feixiang’s amines capability will reinforce its position in surfactants for home, agrochemical, and industrial markets. Rhodia’s last sizable acquisition was McIntyre Group, a Chicago-area specialty surfactants maker, in 2009. After the Feixiang acquisition, CEO Jean-Pierre Clamadieu says, Rhodia will generate around one-third of its sales in Asia.