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AkzoNobel sells Permascand AB

Press Release   •   Oct 31, 2012 10:30 GMT

AkzoNobel’s business unit Pulp and Performance Chemicals is selling the industrial company Permascand AB of Ljungaverk, Sweden. The new group of owners consists of three members of the company’s current management, the investment company Mittkapital and the government-owned venture capital company, Inlandsinnovation AB.

Today, the parties have signed an agreement according to which the new owners will assume responsibility effective from November 1, 2012. All of the approximately 130 employees will retain their jobs within the company.

“We are very happy that Permascand will be able to continue working towards the future with owners that have a strong grounding in both the company and the region,” says Niklas Larsson, Chairman of the Board of Permascand AB and member of the senior management team at AkzoNobel Pulp and Performance Chemicals.

The parties have agreed not to publish the purchase consideration.

“We look forward to continuing to develop Permascand from the strong base established during its time within AkzoNobel. We will now be focusing on growth,” says Fredrik Herlitz, President of the company, who together with Lars Bohman and Jan-Olof Strömberg is part of the company’s new management team.
Permascand holds a strong global position with regard to electrodes and electrode coatings. Permascand also has special status in the Nordic region when it comes to the processing of titanium and other highly durable materials for applications, primarily in the chemicals and process industry, the offshore sector and maritime applications.

In connection with today’s transaction, the parties will be holding a shared press conference at 2.00 p.m at Folketshusvägen 50, Ljungaverk, Sweden. Please see the separate invitation.

(In Swedish/Pressmeddelandet på svenska)

For further information:
Anne-Cathrine Hartmann, Communication Manager
AkzoNobel Pulp and Performance Chemicals
Telephone +46 709 57 71 22

Note to editors
Pulp and Performance Chemicals (formerly Eka Chemicals) is a business unit within AkzoNobel. We are a leading global force in pulp bleaching technologies, paper chemicals, colloidal silica and expandable microspheres. Our 2,500 employees serve the pulp and paper and other industries in 32 countries.

AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow’s Answers Today™.