Nexeo Solutions (The Woodlands, TX) has completed a joint venture with Beijing Plaschem, giving the thermoplastics distributor 30 locations across China. Originally announced in March, the venture, Nexeo Plaschem, will employ more than 120 people.
Yang Zhigang, former chairman of Beijing Plaschem, will be the general manager of the joint venture; and Philip Krichilsky will begin work on November 5 as the VP and general manager, Nexeo Asia.
Founded in 1996, Beijing Plaschem distributes engineering and commodity plastics, chemicals, additives, and agrochemicals, with headquarters in Beijing and offices in Beijing, Tianjin, Shandong, Jiangsu, Shanghai, Zhejiang, Fujian, Guangdong, Sichuan, Chongqing, and Shenyang. It has warehouses in Beijing, Tianjin, Dalian, Shenyang, Yantai, Qingdao, Shanghai, Changzhou, Yuyao, Ningbo, Chongqing, Chengdu, Guangzhou, and Xiamen.
Beyond its executive office in Texas, Nexeo has an additional office in Ohio, with overseas locations in Spain (Barcelona) and Canada (Ontario, Quebec, western Canada). Nexeo is the former distribution business of Ashland, which was sold to TPG Capital in November 2010 for $930 million in an all-cash deal.