Rhodia to Buy China’s Feixiang Chemicals

Rhodia says it has agreed to acquire Feixiang Chemicals (Zhangjiagang, China) for a price based on an enterprise value of $489 million--about nine times Feixiang’s estimated 2010 Ebitda. The acquisition is expected to be accretive within the first year. Feixiang manufactures fatty amine and surfactant products, with a total capacity of about 80,000 m.t./year. Rhodia will integrate the acquisition into its Novecare business unit, strengthening that division’s offerings to the agchems, home and personal care, and oilfield and industrial markets, Rhodia...

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