media release

AkzoNobel Strengthening European Chemicals Portfolio

AkzoNobel is to enhance its chemicals portfolio after making an irrevocable bid on German-based LII Europe. Financial details were not disclosed.

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.

“When interesting investment opportunities arise we will always consider them and this deal represents a good strategic fit with our own chemicals activities,” explained Rob Frohn, the AkzoNobel Board member responsible for Specialty Chemicals.

“The transaction will significantly improve our position on the caustic market in Europe and offers operational synergies with our other two Industrial Chemicals plants in Germany.”

The deal, which is subject to regulatory and other appropriate approvals, is expected to be completed in the first quarter of 2009.

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