The acquisition is expected to close in Q2 2020. Over 200 employees from the CMC business of J.M. Huber Corporation will be transferred to Nouryon.
Nouryon, a global specialty chemicals company headquartered in the Netherlands, has announced the acquisition of J.M. Huber Corporation’s carboxymethyl cellulose (CMC) business. Huber is a US-based global portfolio management company that provides industrial products and engineered materials solutions. The acquisition is in line with Nouryon’s growth acceleration plans and will largely expand the company’s CMC product portfolio. In CMC end markets, Nouryon and Huber already have significantly complementary positions. Subject to regulatory approvals, the acquisition is expected to complete in Q2 2020. According to Nouryon, more than 200 employees from Huber’s CMC business will move to Nouryon.
“We would like to say thank you to our employees in the CMC business for their several years of service to Huber and strong dedication to the Huber Principles, especially our values of operational excellence, environmental sustainability, and safety. Huber is very pleased that Nouryon, which shares Huber’s core values, will be becoming the new strategic owner of this business and continuing to provide excellent services and products to our long-standing CMC customers,” said President and CEO of J.M. Huber Corporation, Mike Marberry.
Acquisition complements Nouryon’s existing CMC portfolio
“Nouryon is excited by the opportunity for the acquisition of this high-quality business. With an expansive range of products complementing Nouryon’s existing CMC portfolio, this business will be allowing our company to offer our future and current customers a significantly wider set of solutions. The acquisition also confirms Nouryon’s commitment to investing in sustainable growth platforms. We’re looking ahead to welcoming the employees of this business into our family,” said Chairman and CEO of Nouryon, Charlie Shaver.
In November 2019, Nouryon announced its collaboration with US-based startup Forge Nano. The collaboration focuses on ultra-thin coatings for catalysts, batteries, and other high-growth applications. In July 2019, Nouryon announced the acquisition of Chinese triethylaluminum producer Zhejiang Friend Chemical Co.