24 April 2013 14:00 [Source: ICIS news]
LONDON (ICIS)--AkzoNobel Pulp and Performance Chemicals has agreed to sell its Purate water treatment business to US-headquartered Ecolab Inc, the Netherlands-based firm said on Wednesday.
The companies have signed an agreement under which Ecolab will begin operating the business following completion of the proposed transaction, which is expected in early June.
Financial details were not disclosed.
“We are very pleased that Purate will have an owner who can provide global opportunities for the development of this business, said Byron Smith, AkzoNobel Pulp and Performance Chemicals' director of strategy and transformation.
The divestment is in line with the company’s strategy of focusing on global leadership positions in pulp bleaching, paper chemicals, colloidal silica and expandable microspheres, it said.
Ecolab specialises in water, hygiene and energy technologies and services. The Purate technology will become an offering of Nalco, its Water and Process Services (WPS) division.
In 2012 the Purate business had revenue of around $23m (€18m), Ecolab said in a separate statement.
Completion of the transaction is subject to customary regulatory clearances and other standard closing conditions, it added.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections