AkzoNobel Sells Paper Chemicals Business for $208M
Paper Chemicals is part of the company’s Pulp and Performance Chemicals business and generated annual revenue of €243 million ($331 million) in 2013.
The sale does not include AkzoNobel’s Pulp Bleaching business, 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.
The parties expect the acquisition to be completed in about six months. AkzoNobel will continue as toll manufacturer of certain products and will enter into an agreement with regards to the colloidal silica supply to Kemira.
In April, AkzoNobel’s Marine Coatings business and The Gold Standard Foundation developed a carbon credit methodology for the international shipping industry that they say is the first of its kind.
Energy Manager News
- Energy-as-a-Service: Charting a Path Through Complexity
- Demand Energy, EnerSys Complete Storage Project
- Lunera Intros Pathway and Entryway LED
- FPL to Buy and Phase Out Coal-Powered Plant, Saving Customers $129M
- Environmental, Health and Safety Software Moves Forward
- Johnson Controls: Interest, Investment in Energy Efficiency Up
- First-Ever Statewide Endorsement of Retail Supplier, by Delaware, Goes to Direct Energy
- Oberlin, Ohio, Ratepayers to Receive $2.2M in Rebates for Sale of RECs