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Business

Kemira Buys Akzo’s Paper Chemicals Unit

by Alex Scott
July 14, 2014 | APPEARED IN VOLUME 92, ISSUE 28

Finnish specialty chemical firm Kemira has agreed to acquire AkzoNobel’s paper chemicals business for $209 million. The firms expect to close the deal, for a business that has annual sales of about $335 million, within six months. The acquisition represents a “major step” for Kemira in implementing its growth plan, says Jari Rosendal, who became the firm’s CEO on May 1. The deal does not include AkzoNobel’s pulp bleaching or colloidal silica businesses, although AkzoNobel will supply colloidal silica to Kemira.

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