Industry News

FRX Polymers Gets USD 12 Mn to Expand its Flame Retardants Business Globally

Published on 2017-10-17. Author : SpecialChem

FRX Polymers has announced that it has secured AU $15.15 million(approximately US $12 million) in pre-IPO mezzanine financing led by a major Chinese Private Equity Fund. Other parties participating in the financing were Brightfield Chemical, an FRX Polymers distributor based in China, and several prominent private equity and hedge funds and family offices located in Australia, Hong Kong, and Southeast Asia.

Business Growth in Asia

The new round of investment will support FRX’s working capital needs including business growth in Asia and also fund the start of FRX’s Antwerp, Belgium plant expansion project. “We are delighted to have completed our pre-IPO mezzanine financing and welcome our new investors to FRX,” said Ross Haghighat, Chairman of FRX Polymers. “This pre-IPO funding significantly broadens the company’s investor base as it positions FRX for an initial public offering in the Australasian region planned for the second quarter 2018.”

China - Fastest-growing Region for Flame Retardant Plastics

China is the fastest-growing region for flame retardant plastics and FRX Polymers is uniquely positioned to expand its penetration and grow the market for its breakthrough products, according to Marc-Andre Lebel, President and CEO of FRX Polymers “We have developed a game-changing, unique product line of sustainable polymeric additives to address the global need for halogen-free flame retardant plastics.” Lebel added that the funds will be used to expand the organization globally with a strong focus in Asia as well as support plans to double production capacity in Belgium.

FRX Polymers is the developer and producer of a new, environmentally friendly family of sustainable inherently flame retardant plastics and oligomers, trade named Nofia®. The company is in the high growth phase of commercializing its unique family of polyphosphonate homopolymers, copolymers, and oligomers.

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Source: FRX Polymers
Avient: Focused on sustainable materials
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