CHELMSFORD, Mass., Oct 5 (Bernama-BUSINESS WIRE) --
FRX Polymers Inc., the global leader in polymeric halogen-free flame
retardant solutions, announced today 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.
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 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.
About FRX Polymers
FRX Polymers, Inc. is the global leader in halogen-free polymeric flame retardant solutions, marketed under the Nofia® brand name. Nofia polymers and oligomers are inherently transparent, high flowing, and due to their high phosphorus content, are inherently flame retardant. These environmentally friendly FR solutions are targeted for electronics, textiles, building and construction, and transportation applications. Founded in 2007, FRX Polymers operates a pilot plant at its headquarters in Chelmsford, Mass. and a full-scale commercial plant in Antwerp, Belgium. For more information, visit http://www.frxpolymers.com/.
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 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.
About FRX Polymers
FRX Polymers, Inc. is the global leader in halogen-free polymeric flame retardant solutions, marketed under the Nofia® brand name. Nofia polymers and oligomers are inherently transparent, high flowing, and due to their high phosphorus content, are inherently flame retardant. These environmentally friendly FR solutions are targeted for electronics, textiles, building and construction, and transportation applications. Founded in 2007, FRX Polymers operates a pilot plant at its headquarters in Chelmsford, Mass. and a full-scale commercial plant in Antwerp, Belgium. For more information, visit http://www.frxpolymers.com/.
Source: FRX Polymers Inc.
No comments:
Post a Comment