Akzo Nobel continues to streamline its paper chemicals business. After the closure of two facilities in Sweden was announced in September, the company is now selling its European ASA business.
Akzo Nobel’s Pulp and Performance Chemicals business, formerly Eka Chemicals, today announced that it plans to divest the European alkenyl succinic anhydride (ASA) business, including parts of the production facility in Düren, Germany, to Italian Mare Holding. The two companies have agreed to envisage the completion of the transaction for the end of the year. The value of the transaction was not revealed.
Next to paper chemicals, Akzo Nobel produces a variety of other products in Düren, large parts of the industrial complex will remain in Akzo Nobel's ownership. Eric Padovani, Sales and Marketing Manager Paper Chemicals with Akzo Nobel underscored that the company will also remain a strong player in paper sizing. It was simply divesting the ASA business.
Paper sizing products are a core business of Mare Holding therefore the ongoing and future quality of current products and service to the European market is assured, and a smooth transition will occur, Mare said in a statement.
Mare Holding is the holding company of Mare, a privately owned company that produces and supplies functional products to the paper, detergents, ceramics, concrete, flame retardants and specialty industries.
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