H.C. Starck to sell its silica sol business to Akzo NobelGoslar, May 9, 2008 - The H.C. Starck Group has sold its silica sol business in Leverkusen to Akzo Nobel Chemicals GmbH, Düren. The acquisition price was not disclosed.
"We are convinced that the silica sol business continues to have very attractive growth possibilities under the ownership of Akzo Nobel," says Dr. Heinz Heumueller, CEO of the H.C. Starck Group.
The companies concluded the contracts on April 30, 2008. The sale is subject to the approval by the antitrust authorities.
"This strategically important acquisition will enable us to enter a number of additional silica sol markets, primarily in Europe," explains Rob Frohn, Akzo Nobel's Board member responsible for Specialty Chemicals. "Our streamlined chemicals portfolio is primed for investment and this transaction emphasizes our commitment to focusing on growth."
Headquartered in Goslar, H.C. Starck is an internationally leading producer of refractory metal and ceramic powders, special chemicals and fabricated products made from advanced ceramics and refractory metals. Last year the company generated sales of 905 million euros. The international H.C. Starck Group employs more than 3,400 employees at 13 sites in Europe, Asia and North America.
"Akzo Nobel is the ideal partner for our future expansion," stress H.C. Starck Silica Sol's Managing Directors Dr. Gabriele Hey and Sven Marienfeld. "With the support of Akzo Nobel we are well positioned continue to pursue our growth strategy." Akzo Nobel is committed to Levasil's existing operations in Leverkusen and also considers expanding its local production capacity.
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