AkzoNobel acquires full control of hydrogen peroxide joint venture
January 19, 2016
AkzoNobel has strengthened its position in the North American hydrogen peroxide market after acquiring the outstanding shares in EkO Peroxide LLC from joint venture partner OCI Peroxygens LLC (a subsidiary of OCI Enterprises Inc.).
Established nine years ago and headquartered at AkzoNobel's site in Columbus, Mississippi, the joint venture owned and controlled the 70,000 short tons per annum (nameplate capacity) hydrogen peroxide manufacturing facility.
Hydrogen peroxide is a key component of AkzoNobel's bleaching chemicals product portfolio and is marketed by the company’s Pulp and Performance Chemicals business. It has essential applications in various markets, notably pulp bleaching, chemical processing and mining.
"This deal supports the strategic growth objectives for our bleaching chemicals activities. The hydrogen peroxide market in North America has improved significantly in recent years, with AkzoNobel well placed to grow the business," said Werner Fuhrmann, AkzoNobel's Executive Committee member responsible for Specialty Chemicals. "It will also enable us to strengthen our integrated platform for the production of hydrogen peroxide and sodium chlorate at the Columbus site."
Financial details of this transaction are not disclosed.