Akzo Nobel NV: AkzoNobel to divest Paper Chemicals business to Kemira for €153 million

Akzo Nobel NV: AkzoNobel to divest Paper Chemicals business to Kemira for €153

July 8, 2014

AkzoNobel today 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

"We are very pleased to announce this project," said AkzoNobel CEO Ton
Büchner. "Kemira is a well-established player in this market and, with the
sale of our Paper Chemicals business, we are following through with our
strategy to focus on leading positions."

Werner Fuhrmann, AkzoNobel's Executive Committee member responsible for
Specialty Chemicals, added: "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."

Jari Rosendal, President and CEO of Kemira, said: "The intended acquisition of
AkzoNobel's global Paper Chemicals business is a major step for Kemira in
implementing our strategic growth plans. It further demonstrates our
commitment to the industry by extending our geographical presence in EMEA, the
Americas and especially APAC."

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.

- - -

AkzoNobel is a leading global paints and coatings company and a major producer
of specialty  chemicals. We  supply industries  and consumers  worldwide  with 
innovative products and  are passionate about  developing sustainable  answers 
for our customers.  Our portfolio  includes well-known brands  such as  Dulux, 
Sikkens, International and Eka.  Headquartered in Amsterdam, the  Netherlands, 
we  are  consistently  ranked   as  one  of  the   leaders  in  the  area   of 
sustainability. With operations in more  than 80 countries, our 50,000  people 
around the world are committed to delivering leading products and technologies
to meet the growing demands of our fast-changing world.

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AkzoNobel Press Release Paper Chemicals


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Source: Akzo Nobel NV via Globenewswire
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