Akzo Nobel
completes two Chemicals divestments
http://www.akzonobel.com/news/news_detail.asp?id=JIFdoYqA0QA%3D&lan=English
As expected Akzo
Nobel has completed the sale of its Catalysts and Phosphorus
Chemicals businesses for a total of some EUR 850 million, free
of cash and debt and prior to final closing adjustments for
working capital.
Hans Wijers, Chairman of Akzo Nobel's Board of Management, said:
"The Company's drive to create more financial room to
maneuver is on track. The closing prices truly reflect the value
of these businesses and we will use the proceeds to reduce net
debt and to strategically upgrade our portfolio."
Both deals involve all assets and all current employees of the
businesses. The Catalysts divestment includes shares in joint
venture companies. Unions and employee representative bodies,
where applicable, have advised positively on the sales and all
required regulatory approvals have been obtained.
2004/8/2
Albemarle
Albemarle Completes Akzo Nobel Refinery Catalysts Acquisition
http://www.albemarle.com/e-news/e-newsfrm.htm
Albemarle
Corporation has completed the acquisition of the
catalyst business of Akzo Nobel N.V. With this acquisition,
Albemarle becomes one of the world's largest producers of hydro
processing catalysts (HPC) and fluidized catalytic cracking (FCC)
catalysts used in the petroleum refining industry. Including
joint ventures and Albemarle's current polyolefin catalyst
business, the new Catalyst segment is expected to generate sales
of roughly $680 million on an annual basis.
Mark C. Rohr, President and Chief Executive Officer of Albemarle
said, "The addition of Akzo's catalyst business provides a
new platform to broaden Albemarle's portfolio of specialty
chemicals and service solutions, and expands our interaction with
a global customer base that plays a key role in the world
economy. We are impressed with the energy and talent our new
employees bring to Albemarle, and we are confident we can create
value by building on this strong marketing, manufacturing and
technology leadership position."
Albemarle is acquiring production sites for HPC and FCC catalysts
in Amsterdam and Pasadena, Texas. Additionally, Albemarle is
acquiring 50 percent ownership of non-consolidated joint ventures
in Brazil (FCC SA), Japan (Nippon Ketjen) and France (Eurecat,
with affiliates in the US, Saudi Arabia and Italy). The
transaction was financed through a new $1.2 billion senior credit
facility and bridge loan.
Ray Hurley, Vice President -- Catalysts, said, "I am very
excited about the future, given the many strengths of Albemarle
and the long-term commitment to the growth and success of our
business. Albemarle's core strengths will help us further enhance
our current market leadership positions in the fastest growing
catalyst segments, such as the rapidly expanding clean fuels
catalyst market, and help us establish ourselves into segments of
the catalyst industry where we are not currently active."
Albemarle
Corporation, headquartered in Richmond, Virginia, is a leading
producer of specialty chemicals for consumer electronics;
transportation and industrial products; pharmaceuticals;
agricultural products; construction and packaging materials. The company's three
business segments, Polymer Additives, Catalysts and Fine
Chemicals (which includes custom manufacturing services for the
life sciences market) serve customers in more than 100 countries,
generating annual revenue of approximately $1.75 billion. Learn
more about Albemarle at http://www.albemarle.com.
2004/4/19 Akzo
Nobel
Albemarle Corporation offers EUR 625 million for refinery
Catalysts business
http://www.akzonobel.com/news/news_detail.asp?id=zZ7tgu8gV2M%3D&lan=English
Akzo Nobel has
received an offer from Albemarle Corporation for the sale of its refinery Catalysts
business for
EUR 625 million, free of cash and debt. Akzo Nobel announced its
intention to divest this business in September 2003 in order to
create more room to maneuver for the Company. Closing of the
transaction is expected to be in the second quarter of 2004. The
deal involves all assets and all current employees of the
business, including shares in joint venture companies. Employee
representative bodies and unions have been informed and
consultation procedures will commence shortly, where applicable.
The required regulatory approvals will be sought as and when
appropriate.
Hans Wijers, Chairman of Akzo Nobel's Board of Management, said:
"We are pleased with the speed at which we have been able to
proceed with this divestment and that the offer we have received
reflects the value of the business. Catalysts is an excellent and
innovative business manned by creative people making positive
contributions to refinery efficiency and the reduction of
emissions. We are confident that Albemarle will continue to
develop the business."
Mark C. Rohr, President and Chief Executive Officer of Albemarle,
said, "The critical mass in catalysis represented by our
proposed acquisition of the Akzo Nobel business provides a strong
technology foundation, positioning us well for sustainable growth
in the refinery market. Refiners are increasingly challenged to
provide higher quality fuels, the market is globalizing, and we
will have the technology and innovation capability to serve more
than 750 refineries worldwide facing these issues."
Cornerstones of the Catalysts business are the Fluid Catalytic
Cracking Catalysts (FCC) and Hydro Processing Catalysts (HPC),
used in the oil refining process. Globally, the business has a
leading position in both product areas. Other catalysts, such as
those for isomerization and alkylation, are also marketed or
under development. Sales in 2003 amounted to some EUR 350
million, while EBITDA for the same period was EUR 87 million
inclusive of income from non-consolidated joint ventures.
Production sites for FCC and HPC catalysts are in Amsterdam (The
Netherlands) and Pasadena (Texas, United States). Chemical
Processing Catalysts (CPC) are produced in Amsterdam. The BU has
50% owned, non consolidated joint ventures in Brazil (FCC SA,)
France (Eurecat, with affiliates in the U.S., Saudi Arabia and
Italy) and Japan (Nippon Ketjen).
The business currently has its main office in Amersfoort (The
Netherlands) and regional offices in Houston (Texas, U.S.) and
Singapore. Research centers are located in Amsterdam and
Pasadena. Employees total some 825 worldwide.
2004/4/26 Akzo
Nobel
Ripplewood Holdings L.L.C. offers EUR 230 million for Akzo Nobel
Phosphorus Chemicals business
http://www.akzonobel.com/news/news_detail.asp?id=xta91WwxBdQ%3D&lan=English
Akzo Nobel has
received an offer from Ripplewood Holdings L.L.C. for the sale of its Phosphorus Chemicals
business for
EUR 230 million free of cash and debt. The intention to divest
this business was announced in September 2003, with the purpose
of creating more financial room to maneuver for the Company.
Closing of the transaction is expected to be completed in the
second quarter of 2004. The deal involves all assets and all
current employees of the business. Employee representative bodies
and unions have been informed and consultation procedures will
commence shortly, where applicable. The required regulatory
approvals will be sought as and when appropriate.
Hans Wijers, Chairman of Akzo Nobel's Board of Management, said:
"This is a further stage in our program to create more
financial room to maneuver for the Company and we are pleased
with the speed at which we have been able to proceed. The offer
fully reflects the value of this excellent business. I am
confident that the new owner will continue to develop its value,
both in the interests of the business and their new
employees."
Phosphorus Chemicals is an industry leader relative to the
worldwide manufacture, distribution and service of
organophosphorus flame retardants, plasticizers, and lubricants.
Applications include engineered resins, plastics, urethane foams,
oil additives, fire-resistant fluids and turbine oils. Products
are supplied worldwide from production locations in Germany
(Bitterfeld) and the United States (Gallipolis Ferry, West
Virginia). The business has approximately 280 employees worldwide
and had annual revenues of approximately EUR 187 million in 2003.
Ian Snow, a Managing Director of Ripplewood, said: "We are
very pleased with the acquisition of Akzo Nobel's Phosphorus
Chemicals business. This transaction will be our second in the
specialty chemicals sector, following our exit late last year from a successful
investment in KRATON Polymers, which was purchased in 2001 from Royal Dutch Shell. We look forward to
achieving similar success with this business."
John Georges, an Industrial Partner of Ripplewood, said: "We
are excited about the growth prospects for the Phosphorus
Chemicals business and are impressed by its management team. We
look forward to providing the support the business needs to
continue to grow and strengthen its position as a global market
leader."
Akzo Nobel expands
chemicals activities in China
Akzo Nobel is ramping up its Chemicals activities in China by
investing approximately EUR 15 million in two new production
facilities. In addition to building a new polysulfides plant in
Taixing, the company will construct a new paper chemicals site in
Guangzhou, two projects which emphasize the business’
ambitious growth
plans for the region.
“Akzo
Nobel has clearly stated its strategy of supporting growth in
five Chemicals platforms with good prospects for profitable
leadership,” explained Leif Darner, the company’s Board Member responsible for
Chemicals. “These two investments will
consolidate and expand our well established activities in China
and are a clear indication of our commitment to creating strong
competitive positions in selected markets.”
Akzo Nobel already
commands a strong position in the global polysulfides market and the new plantーwhich will be built at the company’s existing Functional Chemicals
site in Taixing 江蘇省泰興ーwill have an annual production
capacity of 10,000 tons.
It is scheduled to become operational by early 2007, by which
time the company’s polysulfides plant in Germany
will already have reached maximum capacity. Polysulfides are the
key ingredient in sealants used in the aerospace and glass
insulation industries.
Over in Guangzhou, the new Pulp and Paper Chemicals facilityーoperated by the company’s Eka Chemicals businessーwill be built close to two major
customers and will produce sizing agents.
Production of paper and board is expected to double in China by
2010 and once construction of the factory is completeーexpected to be around the fourth
quarter of next yearーEka will become the first paper
chemicals company operating in China to establish a facility to
produce sizing agents in the strategically important paperboard
manufacturing area of Guangdong.
Added Darner: “These investments will not only
help us to develop the necessary critical mass required to
further support our leading status in the industry, but will also
accelerate our continued expansion in China by helping us to
directly serve the fast-growing Chinese market.”
2006/1/26 Akzo Nobel
Akzo Nobel Makes
Progress With Chemicals Divestments
http://www.akzonobel.com/com/News/News.htm
Akzo Nobel has made major
progress with its Chemicals divestment program. Two deals have
been agreed as part of the strategic realignment of the
portfolio, while a decision has been made to close part of a
third business.
The first
transaction concerns a EUR 24 million agreement for oleochemicals which will see Akzo Nobel divest
the 65 percent majority interest in its Malaysian oleochemicals
joint ventures to JV partner Lam Soon Group. The company’s other oleochemicals operation,
located in Emmerich, Germany, is not involved in the transaction,
but with a number of parties interested - including Lam Soon
Group - progress is being made on the sale.
“We have been
keen to finalize a satisfactory agreement and are delighted to
have concluded a deal with our JV partner, with whom we have had
a successful working relationship since 1987,”
said Leif Darner,
Akzo Nobel’s Board member responsible for
Chemicals.
The company has
also signed an agreement to divest its Electro Magnetic
Compatibility
(EMC) business to ETL Semko K.K., part of UK company Intertek
Group plc. Currently operated on a stand-alone basis, the
business is the market leader in the Japanese commercial
laboratory EMC market.
“We no longer
consider the EMC business to be one of Akzo Nobel’s core activities and it’s clear that the business will
have better opportunities to develop and prosper in the hands of
new owners,” added Darner.
The sale of Akzo
Nobel’s MACC activities will now involve
only two sites following a decision to close the MACC plant at
Delfzijl in the Netherlands in April. The decision to close this
plant was prompted by the facility’s poor financial results and its
weak prospects for the future. “We have reached this conclusion
with difficulty after exhaustive attempts to turn around or sell
this part of the business during the past two years,”
explained Darner.
The proposed
closing date is April 1. Discussions with unions about a social
plan for the 33 employees have started.
The divestment
program - which was announced in February 2005 - involves
divesting 14 businesses with combined 2004 sales of EUR 700
million. So far, Akzo Nobel’s Chemicals group has agreed five
deals, with the company aiming to finalize agreements for the
remaining businesses during the first half of 2006.
2006/10/12 Akzo Nobel
Akzo Nobel Plans to Establish Chemicals Multi-Site in China
Akzo Nobel has today signed a memorandum of understanding with
the
Ningbo Chemical Industry Zone (NCIZ) which paves the way for
the creation of a new chemicals multi-site in China. The company
plans to install the facilities on a 50 hectare plot, making it
one of the biggest sites for Akzo Nobel's activities in the
world.
The project which provides the basis for a variety of future
investments in grassroots chemicals production facilities would
involve building plants for the manufacture of ethylene amines
and chelating agents.
The company also intends to produce organic peroxides 有機過酸化物
on the site. More details
about these intended investments will be announced early next
year.
“This
is a clear signal that our growth strategy is gathering momentum,”
said Leif Darner,
the Akzo Nobel Board member responsible for Chemicals. “China is becoming increasingly
important for us, driven mainly by growing demand in the country.
Lower production costs are also an important factor. This new
multi-site represents an excellent opportunity for us to invest
in a key strategic market where we are continuing to target
expansion plans for our refocused Chemicals businesses.”
The company already
operates two production sites in Ningbo (Polymer Chemicals
and Powder Coatings)
and receives excellent cooperation from the local government. “We investigated a number of
possible locations, but building the new facility in Ningbo was
always an attractive option,” added Darner. “We have a strong presence in the
area and have received the full support of the local authorities,
who are committed to helping make this project a success.”
The NCIZ not only
offers excellent transport links, with a sea port located nearby,
but official approval has also been given for a petrochemical
cracker to be installed within the complex, which will
give access to a number of basic raw materials.
(SINOPEC Zhenhai Refining and Chemical
1,000 thousand t/y)
“We
are fully committed to supporting the growth of our global
activities,” continued Darner. “A number of our Chemicals
businesses are exploring opportunities to expand in Asia and
investments such as this emphasize Akzo Nobel’s commitment to organic growth in
emerging markets. Being well placed to serve our Asian and
overseas customers will also enable us to ensure that we retain
our competitive edge.”
Akzo Nobel
currently operates eight Chemicals production plants in China,
while the Coatings business has 13 facilities. The company has
set a target for combined sales of more than USD 1 billion in
China by 2010.
November 28, 2006
Akzo Nobel opens
new paper chemical plant in China
Akzo Nobel’s Pulp and Paper Chemicals
business, Eka Chemicals, has doubled its presence in
China following the official opening of a new site in Guangzhou. * Eka
Chemicals (Guangzhou) Co Ltd
The facility -
which will produce high quality paper chemicals for the rapidly
expanding Chinese paper industry - is not only a key investment
in one of the company’s main growth platforms for
Chemicals, but also represents the latest milestone in Akzo Nobel’s growth strategy for China.
“Growth in
emerging markets is fundamental to our strategic plan,”
explained Leif
Darner, the Akzo Nobel Board member responsible for Chemicals. “This investment in one of our core
activities forms part of the overall growth plan for the Pulp
& Paper Chemicals business, which already operates a Chinese facility
in Suzhou.”
*Eka Chemicals (Suzhou) Co. Ltd. （Suzhou
Industrial Park Jiangsu）
Added Pulp and
Paper Chemicals General Manager, Jan Svard: “The demand for paper and board in
China is among the highest in the world, with the paper industry
in Southern China having expanded rapidly over the last five
years. With this trend expected to continue, we need to ensure
that we remain a leading supplier in the market.”
He went on to
explain that an additional benefit of the new Guangzhou facility
is its strategic location close to the Pearl River Delta port
area. “The new site will enable us to
achieve a cost leadership position because our major raw
materials will be sourced locally and our major customers are all
located within a short distance of the location. We will also
have a strong platform for export to other countries in the Asia
Pacific region.”
Headquartered in
Sweden, Eka Chemicals is a global leader in bleaching technology
and paper chemistry, with manufacturing sites located all over
the world.
Akzo Nobel’s Pulp and Paper Chemicals business is known in the market as Eka Chemicals and is the world's leading company within the area of bleaching chemicals.
Eka Chemicals and is the world's leading company within the area of bleaching chemicals.
The most important products are sodium chlorate and hydrogen peroxide, which are produced in Europe and the Americas. Eka also has the ability to take total responsibility for running customers’ chlorine dioxide plants.
As well as providing chemicals for environmentally compatible pulp bleaching, Eka also supplies process systems and integrated services for the pulp and paper industry, with the emphasis on performance chemicals that actually improve the properties of paper.
2007/3/12 Akzo Nobel
Akzo Nobel announces intended sale of Organon BioSciences to
Schering-Plough
Akzo Nobel is pleased to announce that on March 11, 2007, it
received an offer for the purchase of its wholly owned subsidiary
Organon BioSciences N.V. (OBS) from Schering-Plough for EUR 11
billion in cash. As a result, Akzo Nobel will no longer be
proceeding with the partial IPO of OBS on Euronext Amsterdam.
The Board of Management and the Supervisory Board of Akzo Nobel
met yesterday, March 11, to consider the binding cash offer for
OBS from Schering-Plough. After careful consideration it was
concluded that this cash offer represents full value to Akzo
Nobel, while providing a new home for OBS as it becomes part of
Schering-Plough ? one of the largest pharmaceuticals companies in
the world. The Board of Management and the Supervisory Board
believe that this transaction is in the best interests of all
stakeholders, including employees, investors, and customers.
Parties expect that the transaction could be completed in the
second half of the year, after consultation with social partners,
and clearance from regulatory bodies. Akzo Nobel obtained
shareholder approval for the divestiture of its pharmaceuticals
business at an Extraordinary General Meeting held in September
2006. Employee accrued benefits, including accrued pension
entitlements, will be safeguarded.
Commenting on today’s announcement, Akzo Nobel CEO
Hans Wijers said: “The intended sale of Organon
BioSciences is a major milestone in the history of Akzo Nobel. It
is a fundamental step towards our goal of creating a focused,
international industrial player. At the same time, we are
convinced that we have found an excellent home for OBS. While an
independent future also offered potentially exciting
possibilities, the partnership with Schering-Plough ? one of the
world’s leading pharmaceutical companies
? will give more scope to develop the unique capabilities of OBS.
We believe that this transaction delivers significant value for
our shareholders, and takes into account the interests of all our
stakeholders.”
Akzo Nobel aims to
continue to grow in the most attractive areas
of its coatings and chemicals portfolios through investments and
acquisitions, based on a disciplined and value- driven approach
to earnings and returns over cost of capital. Consistent with the
company’s stated objectives, the proceeds
of this sale provide room to deliver on its growth ambitions and
to reduce Akzo Nobel’s pension and other liabilities.
Additionally, Akzo Nobel intends to embark on a share buy-back
program at the closing of this sale of up to 10% of issued share
capital which equates to approximately EUR 1.3 billion, based on
Friday’s closing share price of 46.41, as
authorized by shareholders at the April 2006 annual shareholders
meeting. The company continues to evaluate further tax efficient
options of returning cash to shareholders and the optimizing of
its capital structure, consistent with its growth strategy.
On the future of OBS, Wijers continued: “The proposed sale offers OBS an
exciting future within a major pharmaceutical player where it can
grow its existing product range and further develop its promising
pipeline of new products. Organon’s research and manufacturing in
Oss, the Netherlands, will be the center of Schering-Plough’s global gynecology and fertility
activities, while Organon’s neuroscience research will
continue in Newhouse, Scotland. Schering-Plough’s animal health activities and
Intervet will continue to operate at their existing locations.
Whilst maintaining the strong pharmaceutical leadership team and
competences in the U.S., Boxmeer will become the headquarters of
the global animal health business.
“However,
on a day like today, when we look forward to both a new, stronger
Akzo Nobel and great opportunities for OBS, it is only natural
that I and many others in this company have some personal mixed
feelings. Whilst we firmly believe this deal offers the very best
future for both Akzo Nobel and OBS, we must reflect on the fact
that pharmaceuticals has been a fundamental and profitable part
of Akzo Nobel for many years. In the past year we have all worked
very hard on the IPO route ? a route to independence that many of
us, not unreasonably, were looking forward to. But I can assure
our OBS colleagues that their real long-term business and
cultural needs are profoundly met in this new relationship with
Schering-Plough. The management team at OBS has done a fantastic
job developing the company and today’s offer shows what a valuable
business they have created. We wish them and all their people the
greatest success.”
Schering-Plough
Chairman and Chief Executive Officer, Fred Hassan, added: “With this transaction we take
another major step in our Action Agenda to transform
Schering-Plough into a global, high-performance company for the
long term. Organon BioSciences will be an excellent fit with
Schering-Plough ? strategically, scientifically and financially.
Given the complementary nature of our businesses and the track
record of Schering-Plough’s management team in executing
transformational change, we expect a smooth and efficient
transition which will allow us to unlock more value from the
Organon BioSciences products and pipeline than would have been
possible for OBS on a stand-alone basis.”
He continued: “Because one of the great strengths
of the combined operation is the complementary nature of the
businesses, for the majority of people in OBS and
Schering-Plough, there will be no issue regarding selection of
overlapping candidates for positions in the new organization.
Where any overlap does exist, decisions will be based on business
logic and with the guiding principles of pragmatism, fairness,
and responsibility to the long-term interests of the business.?
We have great respect for the talented people of Organon
BioSciences and look forward to working together as we continue
on our path towards building a new kind of healthcare company.”
Akzo Nobel 2007/6/14 Akzo Nobel の中国の活動
Akzo Nobel Sets USD
2 Billion Revenues Target in China
Akzo Nobel CEO Hans Wijers has announced new strategic
targets for China which
outline the company’s ambition to achieve
revenues totaling USD 2 billion by 2012.
Rapid expansion in recent years has seen the company
significantly increase both its presence and its sales in China,
and the chairman - who expects 20 percent of
revenues to originate from the Asia Pacific region by 2012 - is confident that this
accelerated growth momentum will gain further impetus as the
investment continues.
“China
is clearly fundamental to our global strategic vision and we are
fully committed to expanding our activities in what is one of the
world’s most important emerging markets,”
said Wijers. “We have revised our sales target
for China a number of times in recent years and this reflects not
only the extent of our ambition, but also the confidence we have
in the sustainable success of our businesses.
“By
hitting our targets we will have quadrupled our revenues in China
in well under ten years. We also expect the Asia Pacific region
to have almost doubled its contribution towards the company’s global revenues in the next five
years.”
The Board of
Management is currently in China, a visit which coincides with
the opening of two new plants - a Decorative
Coatings facility in Langfang and a Functional Chemicals site
producing polysulfides in Taixing - and the chairman added that
while Akzo Nobel is actively pursuing leading positions in all
its global markets, no hasty decisions will be made regarding
acquisitions.
“We
have a balanced approach to investing and although we will always
keep our financial discipline, we are looking to accelerate
growth both organically and through selective acquisitions in
order to increase profitability and create value,”
Wijers continued. “It’s all about being fit for the
future and firmly establishing ourselves as one of the world’s leading and most respected
industrial companies.”
The last few years
have seen significant Akzo Nobel activity in China, where the
company’s 2006 revenues totaled USD 800 million. As well as recently announcing a EUR 250 million
investment for a new chemicals multi-site in Ningbo, Akzo Nobel has also opened new
coatings facilities in Suzhou, Langfang, Tianjin and Jiashing,
bringing the total number of plants to 22 and the number of
employees to almost 5,000.
A key element of this continuing expansion is the company’s commitment to sustainability.
Akzo Nobel has gone to great lengths to ensure that all its new
facilities are constructed to meet the highest applicable
standards in areas such as energy efficiency, safety and the
environment.
The products manufactured at the new polysulfides site in Taixing
are also providing eco-friendly solutions for the Chinese
construction industry, as they are being used to help improve the
effectiveness of double glazing?so contributing to the country’s new green building policy.
Concluded Wijers: “Achieving sustainable success,
both economic and environmental, is central to our global
strategy. We have set ambitious targets, but the emerging market
in China is one of our major priorities and we are confident that
the refocused company is in a strong position to accelerate
profitable growth and create further value for shareholders.”
Akzo Nobel Opens Historic
Plant in Dubai
Akzo Nobel Powder Coatings has opened a landmark facility in
Dubai. The new factory - which strengthens the business’
presence in the
important Middle East market?is the company’s first manufacturing site in the
United Arab Emirates.
The investment, which represents an acceleration of the company’s Middle East growth plans,
follows on from the recent acquisition of ICI and underlines the
strategic importance of the region to the Powder Coatings
business.
“As
the world’s largest coatings company and the
global leader in powder coatings we are committed to expanding in
key markets around the world,” said Akzo Nobel CEO Hans Wijers. “This investment will therefore
ensure that we further establish ourselves at the heart of an
increasingly attractive region.”
Added Powder
Coatings General Manager Rob Molenaar: “There is huge growth potential in
the Middle East, particularly in the architectural sector, which
accounts for around 60 percent of the area’s powder coatings market. We offer
an extensive range of powder and liquid technologies and we are
keen to utilize our scale and expertise in order to meet all the
needs of our customers.”
Located in Jebel
Ali, 35 kilometers south west of Dubai, the new site offers a
full range of services and products, including color matching,
rapid made-to-order products, and technical support.
Akzo Nobel Powder Coatings is the largest global manufacturer of
powder coatings and a world leader in powder coatings technology.
Powder coatings are used on everything from metal furniture and
window frames, to radiators, pipes and cars and even wood and
plastic.
AkzoNobel Strengthening Specialty Chemicals Portfolio
AkzoNobel is to re inforce its Specialty Chemicals portfolio by acquiring businesses in Europe and Asia. The company has signed two agreements which will strengthen both its paper and polymer chemicals activities.
The first deal involves AkzoNobel’s Pulp & Paper Chemicals business, Eka Chemicals, acquiring Levasil, the silica sol business of Germany's H.C. Starck Group. Meanwhile, AkzoNobel Polymer Chemicals has agreed to purchase two organic peroxides product lines from China’s Jiangsu QiangSheng.
Bayerは子会社H.C. Starck を投資会社の Advent International とCarlyle Group に売却。
“These two transactions underline our strategic commitment to grow our existing portfolio,” explains Rob Frohn, Akzo Nobel’s Board member responsible for Specialty Chemicals. “They will further improve our capability to serve customers in key markets where we already hold strong global positions.”
Located in Leverkusen, H.C. Starck supplies its Levasil silica sol brand as a raw material - mainly to markets in Europe - with the plant'w production capacity totaling around 30,000 tons a year. The business employs approximately 50 people. Silica sols are used in various manufacturing industries, including paper, electronics and construction.
Subject to regulatory approvals, the acquisition is expected to be completed no later than the third quarter of 2008.
Jiangsu QiangSheng is China's largest manufacturer and supplier of organic peroxides. AkzoNobel is acquiring two of the company’s organic peroxides product lines, which are used mainly in keyboard pads and for the production of silicone rubber. Customers are located primarily in China, Taiwan and Korea.
Completion is expected in the second quarter of 2008.
Financial details were not disclosed.