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Business
France’s Novacap Buys Stake In Chinese Firm
by Michael McCoy
September 23, 2013
| A version of this story appeared in
Volume 91, Issue 38
The French industrial chemicals maker Novacap has acquired a controlling stake in Taixing Yangzi Pharm Chemical, a Chinese manufacturer of p-aminophenol, a raw material for the analgesic acetaminophen. Novacap produces acetaminophen at a plant in Wuxi, China, and is a Yangzi customer. Yangzi had sales last year of close to $100 million. According to Novacap, the Chinese firm upgraded its manufacturing technology from iron reduction to catalytic hydrogenation during 2010 and 2011.
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