GOTHENBURG, May 12, 2008 (Press Release) - AkzoNobel’s Pulp & Paper Chemicals business, Eka Chemicals, has signed an agreement to acquire the silica sol business of H.C. Starck Group, Germany, known under the brand name Levasil.
Located in Leverkusen, H.C. Starck´s silica sol business supplies colloidal silica sols – mainly to markets in Europe and South-East Asia – with a production capacity at the plant totaling around 30,000 tons a year, while the business employs approximately 50 people. Silica sols are used in important manufacturing industries including paper, electronics and construction.
“The transaction underlines our strategic commitment to grow our existing portfolio,” explains Rob Frohn, AkzoNobel’s Board member responsible for Specialty Chemicals. “It will further improve our capability to serve customers in key markets where we already hold strong positions. “
Adds Eka Chemicals General Manager Jan Svärd: “Eka Chemicals was the first company to apply silica sol technology in paper manufacturing. Acquiring this business will increase to seven the number of production plants we operate in strategically important regions.”
Svärd also says, that silica sols are versatile chemicals with prominent growth used for high performance applications in many industries, such as paper, electronics, coatings for clear lacquers and construction.
“We are convinced that Levasil will have excellent development prospects under the new owners” explained H.C. Starck’s CEO Dr. Heinz Heumüller.
“AkzoNobel is the ideal partner for our future expansion,” explained H.C. Starck Silica Sol’s Managing Directors Dr. Gabriele Hey and Sven Marienfeld. “With their support we will continue to pursue our growth strategy.” During the sales process, AkzoNobel has indicated its intention to continue and expand the Leverkusen production location.
Subject to regulatory approvals, the acquisition is expected to be completed no later than the third quarter of 2008.
