Kemira buys AkzoNobel's Paper Chemicals business for Euro 153 mn

AkzoNobel will sale its global Paper Chemicals business to Kemira for Euro 153 million. Paper Chemicals, a part of AkzoNobel’s Pulp and Performance Chemicals business, generated annual revenue of Euro 243 million in 2013. 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.
 
"We are very pleased to announce this project. 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,” said Ton Buchner, CEO, AkzoNobel.
 
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."