AkzoNobel announced the intended sale of its global Paper Chemicals business to Kemira for EUR153 million. The transaction is expected to be completed in six months.
Paper Chemicals is part of the Pulp and Performance Chemicals business of AkzoNobel’s Speciality Chemicals business area and generated annual revenue of EUR 243 million in 2013. It does not include the company’s Pulp Bleaching 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.