Sector News

Kemira Oyj Completes The Acquisition Of Akzonobel Paper Chemicals Business

May 5, 2015
Chemical Value Chain
/PRNewswire/ — Kemira has completed the acquisition of AkzoNobel paper chemicals business announced on July 8, 2014.
 
The value of the transaction is EUR 153 million and it will become cash-effective in the second quarter of 2015. The acquired business is expected to increase revenue by more than EUR 200 million on an annualized basis as of the completion date.
 
As communicated earlier, six of the AkzoNobel paper chemicals manufacturing sites and approximately 350 employees will be transferred to Kemira. Kemira will also increase the production capacity of its own paper chemical manufacturing sites in order to realize expected production synergies. The integration period of the transaction is expected to last approximately two years and result in EUR 15 million net synergies on an annualized basis. The production sites to be transferred to Kemira are located in South Korea, Thailand, Indonesia, Australia, Spain and Italy.
 
“This acquisition strengthens our market position, especially in the growing APAC region. It also enables substantial efficiency improvements in our global paper chemicals manufacturing network. Most importantly, we gain new competencies and technological capabilities through 350 paper chemical experts and six manufacturing facilities — extending our ability to deliver best in business expertise and services to our customers. I want to warmly welcome all the new employees to Kemira, now the only pulp and paper chemistry provider with a truly global reach,” says Jari Rosendal, Kemira’s President and CEO.
 
Source: Kemira

Related News

March 6, 2021

New catalyst makes styrene manufacturing cheaper, greener

Chemical Value Chain

Chemical engineering researchers have developed a new catalyst that significantly increases yield in styrene manufacturing, while simultaneously reducing energy use and greenhouse gas emissions.

March 6, 2021

Haldor Topsoe to build large-scale SOEC electrolyzer manufacturing facility

Chemical Value Chain

With efficiencies above 90%, Topsoe’s proprietary SOEC electrolyzers offer superior performance in electrolysis of water into hydrogen, when compared to today’s standard alkaline or PEM electrolyzers.

March 6, 2021

Chevron Phillips names new CEO 

Chemical Value Chain

Chevron Phillips Chemical announced that Bruce Chinn, currently president, Chevron Chemicals, will become chief executive officer. B.J. Hebert, currently executive vice president and chief operating officer, will become president and chief operating officer.

Send this to a friend