Akzo Nobel announces dual chemicals acquisition

09 May 2008 08:43  [Source: ICIS news]

SINGAPORE (ICIS news)--Akzo Nobel announced on Friday it has signed two separate agreements to acquire Levasil, the silica sol business of Germany’s HC Starck group, and  two organic peroxide product lines from China’s Jiangsu QiangSheng.

 

These additions to the specialty chemicals portfolio would further improve our ability to serve customers in key markets, the company added, although it disclosed no financial details.

 

The Levasil acquisition is targeted to be finalised by this year's third quarter, while the organic peroxide lines from Jiangsu QiangSheng was expected to be completed by the second quarter, Akzo Nobel said.

 

“The addition of the organic peroxide lines will gain us a quicker entry into the Chinese market especially since QiangSheng is a well-known local producer. I believe China is a growing market for these products,” said a company source.

 

Akzo Nobel is a Netherlands-based manufacturer of specialty chemical and coating products.

 

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By: Bohan Loh
+65 6780 4359

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