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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