AkzoNobel recently announced the €5 million (~ $6 million) divestment of its 50% share in non-consolidated joint venture Eka Synthomer Oy to Synthomer. The divestment reportedly follows a strategic review of the businesses within AkzoNobel’s portfolio.
“Following an earlier announcement about the intended divestment of our Paper Chemicals activities to Kemira, this deal completes our exit from the paper chemicals market,” said Niek Stapel, managing director of Pulp and Performance Chemicals business. “Divesting our holding in Eka Synthomer Oy will now allow us to focus on our strong chemical platforms, as well as our global leadership positions in bleaching chemicals, colloidal silica, Kromasil and expandable microspheres.”
The Eka name will reportedly remain a core part of AkzoNobel’s Specialty Chemicals business.