AkzoNobel to divest 50 percent stake in Eka Synthomer Oy joint venture

October 22, 2014

AkzoNobel today announced the €5 million divestment of its 50 percent share in non-consolidated joint venture Eka Synthomer Oy, to Synthomer.

The divestment of these shares follows a strategic review of the businesses within AkzoNobel's portfolio.

Commenting on the transaction, Niek Stapel, Managing Director of AkzoNobel's Pulp and Performance Chemicals business, said: "Following an earlier announcement about the intended divestment of our Paper Chemicals activities to Kemira, this deal completes our exit from the paper chemicals market.

"Divesting our holding in Eka Synthomer Oy will now allow us to focus on our strong chemical platforms, as well as our global leadership positions in bleaching chemicals, colloidal silica, Kromasil and expandable microspheres." The Eka name will remain a core part of AkzoNobel's Specialty Chemicals business.

Eka Synthomer Oy is a non-consolidated joint venture between AkzoNobel Pulp and Performance Chemicals and Synthomer. Based in Finland, it produces and sells styrene-butadiene latex products for the paper and board industry, mainly in Nordic countries.

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AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 50,000 people around the world are committed to delivering leading products and technologies to meet the growing demands of our fast-changing world.

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Source: Akzo Nobel NV via Globenewswire

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