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AkzoNobel completes divestment of Paper Chemicals business

AMSTERDAM, Netherlands, May 4, 2015 (GLOBE NEWSWIRE) -- AkzoNobel has finalized the €153 million divestment of its global paper chemicals business to Kemira. The deal was first announced in July 2014.

"This is another important step in our strategy to focus on leading positions in bleaching chemicals, colloidal silica and expandable microspheres," says Niek Stapel, Managing Director Pulp and Performance Chemicals. "The deal includes an agreement for distribution of colloidal silica to the paper industry and we are looking forward to future growth of this product line."

AkzoNobel continues to have a strong presence in the pulp industry as the leading global supplier of chemicals and customized solutions for bleaching pulp, marketed under the Eka brand.

The Pulp and Performance Chemicals portfolio also includes innovative and sustainable products and technologies used in a variety of other applications, marketed under brands such as Bindzil, Expancel, Kromasil and Levasil.

AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. Calling on centuries of expertise, we supply industries and consumers worldwide with innovative products and sustainable technologies designed to meet the growing demands of our fast-changing planet. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as one of the leaders in the area of sustainability, we are committed to making life more liveable and our cities more human.

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This press release contains statements which address key issues such as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website www.akzonobel.com

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Source:Akzo Nobel NV