Quadrise Fuels extends AkzoNobel supply contract

Quadrise Fuels on Monday said it had extended supply contracts with AkzoNobel to November 2019 as part of its MSAR alternative fuel oil project.

It added that in 12 months both companies intended to sign a new three-year exclusive global cooperation and supply agreement with Nouryon, the new name for AkzoNobel's specialty chemicals business, after following its acquisition by The Carlyle Group last month.

Quadrise executive chairman Mike Kirk said the contract extension "reinforces the commitment of both parties to commercialising the global MSAR business".