AkzoNobel intended selling its global paper chemicals business Kemira

AkzoNobel to sell paper chemicals business to Kemira for €153 million

9:42 AM, 8th July 2014
AkzoNobel intended selling its global paper chemicals business to Kemira

AMSTERDAM, THE NETHERLANDS: AkzoNobel announced the intended sale of its global paper chemicals business to Kemira for €153 million. Paper Chemicals is part of the company’s pulp and performance chemicals business and generated annual revenue of €243 million in 2013.

The intended sale of Paper Chemicals follows a strategic review of the business’ fit within AkzoNobel’s portfolio. Paper Chemicals is part of the Pulp and Performance business within AkzoNobel’s Specialty Chemicals business area. It does not include AkzoNobel’s Pulp Bleaching business, nor its Colloidal Silica business. For the paper related part of Colloidal Silica, the parties will enter into a distribution arrangement. The Pulp Bleaching business and the Eka name remain core for AkzoNobel’s Specialty Chemicals business.

The transaction is expected to be completed in approximately six months, subject to regular consultation with employee representatives and satisfactory closing conditions, such as receipt of required regulatory clearance. AkzoNobel will continue as toll manufacturer of certain products and will enter into an agreement with regards to the colloidal silica supply to Kemira.

“We have concluded that our Paper Chemicals business will have a better fit with another owner, allowing us to focus on our strong chemical platforms. The Pulp and Performance Chemicals business will continue to focus on global leadership positions in pulp bleaching, colloidal silica and expandable microspheres,” said Werner Fuhrmann, Executive Committee member responsible for Specialty Chemicals, AkzoNobel.

 

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


19,000 protein producing genes in humans, finds new study

LONDON, UK: In a new research, scientists have found the number of protein generating genes in humans to be 19,000 - 1,700 fewer than the most recent ...

Read more
New laser technology to identify chemical hazards

EDINBURGH, UK: A portable laser device is being developed at Heriot-Watt that can instantly identify chemical hazards, increasing the safety of emerge ...

Read more
ADM to acquire WILD Flavors

DECATUR, US: Archer Daniels Midland Company (ADM) is acquiring WILD Flavors GmbH, giving ADM the ability to offer food and beverage companies a compre ...

Read more
Squid’s teeth may find use in reconstructive surgery

WASHINGTON DC, US: Tentacles of squid are loaded with hundreds of suction cups, or suckers, and each sucker has a ring of razor-sharp “teeth&rdq ...

Read more
Arkema, Omya sign distribution agreement in Europe

COLOMBES, FRANCE/OFTRINGEN, SWITZERLAND: Omya, a leading global provider and distributor of specialty chemicals, and Arkema, a leading global chemical ...

Read more
New technique to detect environmental levels of oestrogen

WELLINGTON, NEW ZEALAND: Victoria University of Wellington researchers have developed a new technique that can detect environmental levels of oestroge ...

Read more