Akzo Nobel Completes EUR 153 Mln Divestment Of Paper Chemicals Business

(RTTNews) - Paints and coatings maker Akzo Nobel NV (AKZOY.PK, AKZOY) Monday said it has finalized the 153 million euros divestment of its global paper chemicals business to Kemira. The deal was first announced in July 2014.

AkzoNobel said it continues to have a strong presence in the pulp industry as the leading global supplier of chemicals and customized solutions for bleaching pulp, marketed under the Eka brand.

The Pulp and Performance Chemicals portfolio also includes innovative and sustainable products and technologies used in a variety of other applications, marketed under brands such as Bindzil, Expancel, Kromasil and Levasil.

Niek Stapel, Managing Director Pulp and Performance Chemicals, said, "This is another important step in our strategy to focus on leading positions in bleaching chemicals, colloidal silica and expandable microspheres. The deal includes an agreement for distribution of colloidal silica to the paper industry and we are looking forward to future growth of this product line."