Eka Chemicals Acquires Korean Paper Chemicals Business.ARNHEM, the Netherlands--(BUSINESS WIRE)--July 19, 1999-- Eka Chemicals, Sweden, a business unit of Akzo Nobel, has agreed to acquire the Paper Chemicals business of Dongsung Chemical Ltd, South Korea. The acquisition will include the paper chemicals and resins business, a production unit in Kunsan (South Korea) as well as Dongsung's 70% interest in the gum resin producer Fengkai Dongsung Chemical Co Ltd, China. "Korea's paper industry shows a good recovery rate and we see this acquisition as a strong basis for further strategic development of our paper chemicals program in this important market," said Rudy M.J. van der Meer Van der Meer is a Dutch surname that simply means the phrase 'from the lake' in English. Many years ago, descendants would have lived from a lake in the Netherlands which is how the name first originated. , Akzo Nobel's member of the Board of Management for Chemicals. The acquired chemicals business, with turnover in 1998 of KRW KRW In currencies, this is the abbreviation for the Korean Won. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 18.2 billion (EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15.7 million, USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15.5 million), includes rosin rosin or colophony, hard, brittle, translucent resin, obtained as a solid residue from crude turpentine. Usually pale yellow or amber, its color may vary from brownish-black to transparent depending on the nature of the source of the crude and synthetic sizing products as well as polyacrylamides for paper manufacturing. Another product group is resin based emulsifier emulsifier /emul·si·fi·er/ (e-mul´si-fi?er) an agent used to produce an emulsion. e·mul·si·fi·er n. An agent used to make an emulsion of a fixed oil. products, mainly for the synthetic polymer industry. The business and production unit employs some 40 people. Eka Chemicals is one of the leading suppliers of sizing chemicals and retention systems to the paper industry world-wide. In the Asian Pacific region Eka Chemicals is present with production units in all major markets i.e. Australia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Indonesia, Thailand, Taiwan and another new plant is under construction in China. Part of the deal is the joint venture Fengkai Dongsung Chemical Co Ltd, with a production facility in Guangdong Province in China. The joint venture manufactures rosin derivatives. The other, 30%-owner of the joint venture is Guangdong Hualin Corporation, Fengkai, China. Eka Chemicals, Bohus, Sweden, with 2,800 employees in thirty countries is a business unit of Akzo Nobel. Eka Chemicals is a leading supplier of bleaching chemicals, paper chemicals and systems to the pulp and paper industry The global pulp and paper industry is dominated by North American (United States, Canada), northern European (Finland, Sweden) and East Asian countries (such as Japan). Australasia and Latin America also have significant pulp and paper industries. . They also supply a broad range of specialty chemicals to the adhesives, polymer, pharmaceutical and water treatment industries. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals and fibers. The fibers business, now known as Acordis, will be demerged. The company currently employs approximately 86,000 people in more than 70 countries. As of 1999 the euro is Akzo Nobel's external reporting currency. Consolidated sales for 1998 totaled EUR 12.5 billion (USD 13.8 billion). Financial results for the second quarter of 1999 will be announced on July 28. Internet: http://www.akzonobel.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion