AkzoNobel is to reinforce its Specialty Chemicals portfolio by acquiring businesses in Europe and Asia. The company has signed two agreements which will strengthen both its paper and polymer chemicals activities.
The first deal involves AkzoNobel's Pulp & Paper Chemicals business, Eka Chemicals, acquiring Levasil, the silica sol business of Germany's H.C. Starck Group. Meanwhile, AkzoNobel Polymer Chemicals has agreed to purchase two organic peroxides product lines from China's Jiangsu QiangSheng.
"These two transactions underline our strategic commitment to grow our existing portfolio," explains Rob Frohn, Akzo Nobel's Board member responsible for Specialty Chemicals. "They will further improve our capability to serve customers in key markets where we already hold strong global positions."
Financial details were not disclosed.