Oleon signs an agreement for the acquisition of the Akzo Nobel European oleochemicals business
Oleon, one of the top three oleochemical companies in Europe, will acquire all the assets of the business and all employees (around 90) will transfer to the new owner. Located in Emmerich, Germany, the business posted worldwide sales of approximately EUR 50 million in 2005.
"This transaction assures the future for Oleochemicals Emmerich with plenty of potential for growth, particularly given the increasing demand for renewable raw materials", said Leif Darner, the Akzo Nobel Board member responsible for Chemicals. "We are confident that this transaction will be a positive step for both the business and its employees".
Oleochemistry is the core business of Oleon and Oleon wishes to further strengthen its position. Thanks to this acquisition our product range is extended with some very interesting specialties for the vegetable-based fatty acids market. Akzo Nobel has always been highly regarded within the industry as a specialty company and niche player. This complements the Oleon products", said Chris Depreeuw, Managing Director of Oleon.