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Italmatch Chemicals invests in FRX Polymers
Source：Plastics News Asia
Date Published：10/10/2019 01:10:10 PM
Italmatch Chemicals Group strengthens position in flame retardants through investment with FRX Polymers
Italmatch Chemicals Group has established a strategic partnership with FRX Polymers Inc., the Boston-based USA manufacturer of Nofia® polymeric phosphorus-based flame retardants, by making an investment into the company. FRX Polymers developed the world’s first halogen-free polymeric flame retardant additive and has seen its ground breaking innovation impact a range of markets spanning from textiles to automotive and electronics. Polycarbonates, blends and alloys, polyurethane foam and coatings, copper clad laminates (CCL) for electronics as well as other thermoplastic systems rely on the Nofia® family of products to deliver flame retardancy with other enhanced performance characteristics. FRX has an application development center in Massachusetts and operates a full-scale polyphosphonate plant in Antwerp.
This investment enables Italmatch Chemicals to further strengthen its position in its core flame retardants business and brings an expanded market access to Nofia® products through Italmatch’s global reach.
Sergio Iorio, Founder and CEO of Italmatch Chemicals Group stated: “We are excited to invest in FRX, considering the very innovative approach of the company to the flame retardant additives. The company owns a comprehensive patent estate allowing it to apply its innovative technology to a wide range of applications; we are confident that Italmatch can support and accelerate the growth of FRX through technological support and synergies, considering that today Italmatch is the largest global producer of phosphonate and of industrial phosphorus derivatives, with almost 90 years in the phosphorus industry. FRX can also benefit from the global presence of Italmatch, and a strong complementary portfolio of halogen-free products; we are also excited to work jointly with the competent and experienced management team of FRX, with the aim to accelerate its growth.”
Ugo Zucchelli, Technical and Business Director of Italmatch Flame Retardants, declared: “The trend to phosphorus-based innovative flame retardants, that was pioneered years ago by Italmatch, is now clearly ready for full market penetration. Investing in FRX represents an ideal environment to complete and enlarge Italmatch’s flame retardant products portfolio, opening new opportunities from the technical and business point of view.”
Marc Lebel, Founding CEO of FRX Polymers Inc, declared:” We are thrilled to be joining the Italmatch Chemicals Group. The transaction will unlock new technical synergies between FRX and Italmatch products which will accelerate the growth of our combined product lines. FRX will also gain access to Italmatch’s global sales network allowing it to rapidly expand its global footprint. Finally, FRX’s established phosphorus supply chain will benefit from Italmatch’s leading position as the world’s largest industrial buyer of yellow phosphorus.
Ross Haghighat, CEO of Triton Systems and Chairman of FRX Polymers, noted, “There is considerable synergy between the two companies and this transaction propels the growth trajectory of FRX significantly. We welcome Italmatch as our newest partner.”
Headquartered in Boston (Massachusetts) and with a state-of-the-art manufacturing plant in Antwerp (Belgium), FRX Polymers Inc. operates the halogen-free flame-retardant additives business with a workforce of 26 employees. The company is backed by major venture capital investors, including Citic Capital, Evonik Venture Capital, Triton Systems, Capricorn Venture Partners, Israel Cleantech, PMV, Mubadala, RobecoSam and BASF Ventures.