AkzoNobel buys over German chlorine firm

22 December 2008 08:45  [Source: ICIS news]

SINGAPORE (ICIS news)--AkzoNobel has made an irrevocable bid for a Germany based chlorine company, LII Europe, the Netherlands-based specialty chemicals maker said on Monday.

"The deal, which is subject to regulatory and other appropriate approvals, is expected to be completed in the first quarter of 2009," Akzo said without disclosing the financial details of the transaction.

"When interesting investment opportunities arise we will always consider them and this deal represents a good strategic fit with our own chemicals activities," said Rob Frohn, the board member responsible for specialty chemicals.

Akzo expects for operational synergies to be achieved with two of its other industrial chemicals plants in Germany with LII Europe.

LII Europe operates a multi-client chlorine cluster on the Hoechst Industrial Park near Frankfurt. As well as its main chlorine activities, the company also runs a chlorinated hydrocarbon plant, along with calcium chloride and solid caustic facilities.

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By: Bohan Loh
+65 6780 4359

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