Schering-Plough to Acquire Organon BioSciences of Akzo Nobel
@@Akzo release @@@Shering release
2004/8/2 Akzo Nobel
completes two Chemicals divestments
As expected Akzo
Nobel has completed the sale of its Catalysts and Phosphorus
Chemicals businesses for a total of some EUR 850 million, free
of cash and debt and prior to final closing adjustments for
Albemarle Completes Akzo Nobel Refinery Catalysts Acquisition
Corporation has completed the acquisition of the
catalyst business of Akzo Nobel N.V. With this acquisition,
Albemarle becomes one of the world's largest producers of hydro
processing catalysts (HPC) and fluidized catalytic cracking (FCC)
catalysts used in the petroleum refining industry. Including
joint ventures and Albemarle's current polyolefin catalyst
business, the new Catalyst segment is expected to generate sales
of roughly $680 million on an annual basis.
Albemarle Corporation, headquartered in Richmond, Virginia, is a leading producer of specialty chemicals for consumer electronics; transportation and industrial products; pharmaceuticals; agricultural products; construction and packaging materials. The company's three business segments, Polymer Additives, Catalysts and Fine Chemicals (which includes custom manufacturing services for the life sciences market) serve customers in more than 100 countries, generating annual revenue of approximately $1.75 billion. Learn more about Albemarle at http://www.albemarle.com.
2004/4/19 Akzo Nobel
Albemarle Corporation offers EUR 625 million for refinery Catalysts business
Akzo Nobel has
received an offer from Albemarle Corporation for the sale of its refinery Catalysts
EUR 625 million, free of cash and debt. Akzo Nobel announced its
intention to divest this business in September 2003 in order to
create more room to maneuver for the Company. Closing of the
transaction is expected to be in the second quarter of 2004. The
deal involves all assets and all current employees of the
business, including shares in joint venture companies. Employee
representative bodies and unions have been informed and
consultation procedures will commence shortly, where applicable.
The required regulatory approvals will be sought as and when
Production sites for FCC and HPC catalysts are in Amsterdam (The Netherlands) and Pasadena (Texas, United States). Chemical Processing Catalysts (CPC) are produced in Amsterdam. The BU has 50% owned, non consolidated joint ventures in Brazil (FCC SA,) France (Eurecat, with affiliates in the U.S., Saudi Arabia and Italy) and Japan (Nippon Ketjen).
2004/4/26 Akzo Nobel
Ripplewood Holdings L.L.C. offers EUR 230 million for Akzo Nobel Phosphorus Chemicals business
Akzo Nobel has
received an offer from Ripplewood Holdings L.L.C. for the sale of its Phosphorus Chemicals
EUR 230 million free of cash and debt. The intention to divest
this business was announced in September 2003, with the purpose
of creating more financial room to maneuver for the Company.
Closing of the transaction is expected to be completed in the
second quarter of 2004. The deal involves all assets and all
current employees of the business. Employee representative bodies
and unions have been informed and consultation procedures will
commence shortly, where applicable. The required regulatory
approvals will be sought as and when appropriate.
Ian Snow, a Managing Director of Ripplewood, said: "We are very pleased with the acquisition of Akzo Nobel's Phosphorus Chemicals business. This transaction will be our second in the specialty chemicals sector, following our exit late last year from a successful investment in KRATON Polymers, which was purchased in 2001 from Royal Dutch Shell. We look forward to achieving similar success with this business."
October 13, 2005 Akzo Nobel
Akzo Nobel expands
chemicals activities in China
Akzo Nobel is ramping up its Chemicals activities in China by investing approximately EUR 15 million in two new production facilities. In addition to building a new polysulfides plant in Taixing, the company will construct a new paper chemicals site in Guangzhou, two projects which emphasize the businessf ambitious growth plans for the region.
Akzo Nobel already commands a strong position in the global polysulfides market and the new plant[which will be built at the companyfs existing Functional Chemicals site in Taixing ]hศืป[will have an annual production capacity of 10,000 tons.
Over in Guangzhou, the new Pulp and Paper Chemicals facility[operated by the companyfs Eka Chemicals business[will be built close to two major customers and will produce sizing agents.
Akzo Nobel Makes Progress With Chemicals Divestments
Akzo Nobel has made major
progress with its Chemicals divestment program. Two deals have
been agreed as part of the strategic realignment of the
portfolio, while a decision has been made to close part of a
The first transaction concerns a EUR 24 million agreement for oleochemicals which will see Akzo Nobel divest the 65 percent majority interest in its Malaysian oleochemicals joint ventures to JV partner Lam Soon Group. The companyfs other oleochemicals operation, located in Emmerich, Germany, is not involved in the transaction, but with a number of parties interested - including Lam Soon Group - progress is being made on the sale.
The company has also signed an agreement to divest its Electro Magnetic Compatibility (EMC) business to ETL Semko K.K., part of UK company Intertek Group plc. Currently operated on a stand-alone basis, the business is the market leader in the Japanese commercial laboratory EMC market.
The sale of Akzo Nobelfs MACC activities will now involve only two sites following a decision to close the MACC plant at Delfzijl in the Netherlands in April. The decision to close this plant was prompted by the facilityfs poor financial results and its weak prospects for the future. gWe have reached this conclusion with difficulty after exhaustive attempts to turn around or sell this part of the business during the past two years,h explained Darner.
November 28, 2006
Akzo Nobel opens new paper chemical plant in China
Akzo Nobelfs Pulp and Paper Chemicals business, Eka Chemicals, has doubled its presence in China following the official opening of a new site in Guangzhou.@* Eka Chemicals (Guangzhou) Co Ltd
The facility - which will produce high quality paper chemicals for the rapidly expanding Chinese paper industry - is not only a key investment in one of the companyfs main growth platforms for Chemicals, but also represents the latest milestone in Akzo Nobelfs growth strategy for China.
gGrowth in emerging markets is fundamental to our strategic plan,h explained Leif Darner, the Akzo Nobel Board member responsible for Chemicals. gThis investment in one of our core activities forms part of the overall growth plan for the Pulp & Paper Chemicals business, which already operates a Chinese facility in Suzhou.h *Eka Chemicals (Suzhou) Co. Ltd. iSuzhou Industrial Park Jiangsuj
Akzo Nobelfs Pulp and Paper Chemicals business is known in the market as Eka Chemicals and is the world's leading company within the area of bleaching chemicals.
Eka Chemicals and is the world's leading company within the area of bleaching chemicals.
The most important products are sodium chlorate and hydrogen peroxide, which are produced in Europe and the Americas. Eka also has the ability to take total responsibility for running customersf chlorine dioxide plants.
As well as providing chemicals for environmentally compatible pulp bleaching, Eka also supplies process systems and integrated services for the pulp and paper industry, with the emphasis on performance chemicals that actually improve the properties of paper.
Akzo Nobel announces intended sale of Organon BioSciences to Schering-Plough
Akzo Nobel is pleased to announce that on March 11, 2007, it received an offer for the purchase of its wholly owned subsidiary Organon BioSciences N.V. (OBS) from Schering-Plough for EUR 11 billion in cash. As a result, Akzo Nobel will no longer be proceeding with the partial IPO of OBS on Euronext Amsterdam.
Akzo Nobel aims to continue to grow in the most attractive areas of its coatings and chemicals portfolios through investments and acquisitions, based on a disciplined and value- driven approach to earnings and returns over cost of capital. Consistent with the companyfs stated objectives, the proceeds of this sale provide room to deliver on its growth ambitions and to reduce Akzo Nobelfs pension and other liabilities.
Additionally, Akzo Nobel intends to embark on a share buy-back program at the closing of this sale of up to 10% of issued share capital which equates to approximately EUR 1.3 billion, based on Fridayfs closing share price of 46.41, as authorized by shareholders at the April 2006 annual shareholders meeting. The company continues to evaluate further tax efficient options of returning cash to shareholders and the optimizing of its capital structure, consistent with its growth strategy.
Akzo Nobel Sets USD 2 Billion Revenues Target in China
Akzo Nobel CEO Hans Wijers has announced new strategic targets for China which outline the companyfs ambition to achieve revenues totaling USD 2 billion by 2012.
Rapid expansion in recent years has seen the company significantly increase both its presence and its sales in China, and the chairman - who expects 20 percent of revenues to originate from the Asia Pacific region by 2012 - is confident that this accelerated growth momentum will gain further impetus as the investment continues.
The Board of Management is currently in China, a visit which coincides with the opening of two new plants - a Decorative Coatings facility in Langfang and a Functional Chemicals site producing polysulfides in Taixing - and the chairman added that while Akzo Nobel is actively pursuing leading positions in all its global markets, no hasty decisions will be made regarding acquisitions.
The last few years have seen significant Akzo Nobel activity in China, where the companyfs 2006 revenues totaled USD 800 million. As well as recently announcing a EUR 250 million investment for a new chemicals multi-site in Ningbo, Akzo Nobel has also opened new coatings facilities in Suzhou, Langfang, Tianjin and Jiashing, bringing the total number of plants to 22 and the number of employees to almost 5,000.
January 24, 2008 Akzo Nobel
Akzo Nobel Opens Historic Plant in Dubai
Akzo Nobel Powder
Coatings has opened a landmark facility in Dubai. The new factory
- which strengthens the businessf presence in the important Middle
East market?is the companyfs first manufacturing site in the
United Arab Emirates.
Located in Jebel Ali, 35 kilometers south west of Dubai, the new site offers a full range of services and products, including color matching, rapid made-to-order products, and technical support.
May 9, 2008 AkzoNobel
AkzoNobel Strengthening Specialty Chemicals Portfolio
AkzoNobel is to re inforce its Specialty Chemicals portfolio by acquiring businesses in Europe and Asia. The company has signed two agreements which will strengthen both its paper and polymer chemicals activities.
The first deal involves AkzoNobelfs Pulp & Paper Chemicals business, Eka Chemicals, acquiring Levasil, the silica sol business of Germany's H.C. Starck Group.
Bayerอq๏ะH.C. Starck ๐๏ะฬ Advent International ฦCarlyle Group ษpB
Located in Leverkusen, H.C. Starck supplies its Levasil silica sol brand as a raw material - mainly to markets in Europe - with the plant'w production capacity totaling around 30,000 tons a year.
Polymer Chemicals has agreed to purchase two organic
peroxides product lines from Chinafs Jiangsu QiangSheng.
Jiangsu QiangSheng is China's largest manufacturer and supplier of organic peroxides.
AkzoNobel agrees JV deal in Oman to boost Middle East presence
January 19, 2016
AkzoNobel acquires full control of hydrogen peroxide joint venture
March 09, 2017@
AkzoNobel reviewing strategic options to
separate Specialty Chemicals
@@@AkzoNobel rejects an unsolicited indicative proposal from PPG
AkzoNobel, one of the worldfs leading paints, coatings and chemicals companies announces today a review of strategic options for the separation of its Specialty Chemicals business.
The Specialty Chemicals business, which had revenues of €4.8 billion in 2016, is strongly positioned with a broad portfolio of leading technologies and chemicals which service a wide range of end-user segments including construction, industrial and consumer goods. The separation will allow the Specialty Chemicals business to continue to build and accelerate its market-leading positions across a range of market segments.
Specialty Chemicals business
Curing agents for composites
Ethylene and Sulfur based products
Cellulosics (EHEC and CMC)
Chelates and micronutrients
Redispersable polymer powders
Bleaching and oxidizing chemicals
Eka ClO2-Chlorine dioxide
Eka HP-Hydrogen peroxide
Eka SC-Sodium chlorate
Surface chemistry products
Fuels and lubricants
Paints, coatings and inks
Caustic soda microprills
Monochloroacetic acid (MCA)
Expancel - expandable microspheres
High-purity metal organics
Levasil colloidal silica
Sodium and potassium hydroxide pellets (Pure alkali)
As part of the separation, AkzoNobel will
consider various alternative ownership structures for the Specialty Chemicals
business including, but not limited to, the establishment of an independent
listed entity. The ultimate structure will be determined by reference to
shareholder value maximization as well as broader stakeholder considerations.
Todayfs decision was brought forward following confirmation that AkzoNobel has rejected an unsolicited, non-binding and conditional proposal from PPG Industries Inc. for all of the issued and outstanding ordinary shares in the capital of AkzoNobel. PPGfs proposal substantially undervalues AkzoNobel and is not in the interest of its stakeholders, including its shareholders, customers and employees.
Ton Büchner, CEO, AkzoNobel:
gOur Specialty Chemicals business is an industry leader in many of the markets in which it operates and we are extremely proud of its heritage, performance and people. We are reviewing strategic options to separate it from the company to create focus for both Specialty Chemicals and the Decorative Paints and Performance Coatings group, allowing them to build further on their respective leadership positions.
gAs stated at our full-year results announcement in February, we are now a leaner, more agile company with a solid financial and operational foundation and a focus on growth. AkzoNobel has enjoyed a record performance in recent years in terms of profitability and has made significant strategic progress, allowing us to take this decision.
gOur decision today was brought forward due to recent events. The unsolicited proposal we received from PPG substantially undervalues our company and contains serious risks and uncertainties. The proposal is not in the interest of AkzoNobelfs stakeholders, including its shareholders, customers and employees, and we have unanimously rejected it. Along with my colleagues on our Boards, our executive team and our thousands of employees, I firmly believe that AkzoNobel is best placed to unlock the value within our company ourselves.
gWe understand our role in society and want to protect our ability to continue to invest in communities, research and development, innovation and sustainability in the countries in which we operate.h
AkzoNobel confirms it received an unsolicited, non-binding and conditional proposal from PPG for a public offer on all of the issued and outstanding ordinary shares in the capital of AkzoNobel at a price of €54.00 in cash and 0.3 PPG shares per AkzoNobel share, corresponding to a value of €83.00 per share as per 28 February, 2017 (cum final dividend 2016).
The Board of Management and Supervisory Board of AkzoNobel have carefully reviewed and considered the proposal by PPG, together with their financial and legal advisors. In doing so, the Boards have taken into account the long-term interests of all AkzoNobel stakeholders, including the shareholders.
The Boards have unanimously concluded that the PPG proposal substantially undervalues AkzoNobel by failing to reflect the long-term value creation potential of the company. The Boards have also concluded that the equity component of the proposal has significant issues, including the high leverage of the proposed combination. They also believe the proposal carries significant delivery and timing risk for shareholders, both in relation to substantial anti-trust issues, pension schemes and the achievability of proposed synergies.
The Board of Management and the Supervisory Board of AkzoNobel also believe the proposal is not in the interest of stakeholders including its customers and employees. The proposal would be detrimental to the societies and economies in which AkzoNobel operates, including potentially jeopardizing the companyfs major contribution to communities and research & development organizations globally and its deep commitment to sustainability. The proposal is not in the interests of AkzoNobel employees and would create potential uncertainty for thousands of jobs worldwide.
AkzoNobel did not initiate nor has it encouraged or entertained any conversations with PPG on this matter.
March 9, 2017@PPG
PPG confirms proposal for AkzoNobelPPG today confirmed that it made an attractive and comprehensive proposal to Akzo Nobel N.V. on March 2, 2017, inviting AkzoNobel to enter into negotiations with PPG on a potential transaction to form a combined company, which AkzoNobel rejected.
PPG continues to believe there is a strong strategic rationale for the proposed transaction between PPG and AkzoNobel and will carefully evaluate and consider its position and path forward related to its proposal.
Michael McGarry, chairman and CEO of PPG, said, gPPG has long admired AkzoNobelfs businesses, global presence, culture and principles as well as its advances in innovative product development and sustainable business practices. We believe a combination of our two companies is a very compelling strategic opportunity. We are confident that this combination is in the best interests of the stakeholders of both companies as it presents a unique opportunity to build on the successful legacies of our businesses. PPG has carefully considered the interest of all AkzoNobel stakeholders including shareholders, employees, customers and the communities it serves and has proposed its willingness to enter into serious commitments in respect of all stakeholders.h
Strategically, the combination of PPG and AkzoNobel would deliver an enhanced global player in paints, coatings and specialty materials, combining complementary products, technologies and geographies, and would create a stronger competitor in a highly competitive global marketplace, offering a broader line of products and technologies cost-effectively to a more diverse customer base. Financially, the combination would create a stronger enterprise with a solid investment grade rating.
PPG envisions that the heritage of AkzoNobelfs culture and best practices will be reflected in the composition of the combined company, and in the locations where it would operate. The combination would continue the legacies of both companies, including the use of flagship brands and technologies, investment in research, development and innovation, and the companiesf longstanding commitment to being good employers and corporate citizens that operate in a sustainable and socially responsible manner.
PPG, in conjunction with its financial and legal advisors, has devoted significant time and resources to analyzing a potential combination of PPG and AkzoNobel and is confident in its ability to execute and complete the proposed transaction and to obtain all necessary regulatory approvals.