AkzoNobel has announced plans to reinforce its Specialty Chemicals portfolio by acquiring businesses in Europe and Asia. The company has signed two agreements that will strengthen both its paper and polymer chemicals activities.
AkzoNobel’s Pulp & Paper
Chemicals business, Eka Chemicals, will acquire Levasil, the silica sol
business of Leverkusen, Germany-based H.C. Starck Group. Meanwhile, AkzoNobel
Polymer Chemicals has agreed to purchase two organic peroxides product lines
from China’s Jiangsu QiangSheng.
H.C. Starck supplies its
Levasil silica sol brand as a raw material mainly to markets in Europe. The
plant’s production capacity totals around 30,000 tons a year, and 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 will
acquire 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 primarily located in China, Taiwan, and Korea. Completion of the
acquisition is expected in the second quarter of 2008.
AKZONOBEL STRENGTHENS SPECIALTY CHEMICALS PORTFOLIO
May 22, 2008