BASF and Kemira released an announcement today about the latter's acquisition of BASF's alkyl ketene dimer (AKD) emulsion unit. The deal is expected to be completed by mid-2014, according to MarketWatch.
The two entities, however, agreed not to reveal the financial terms of the acquisition deal, the report added.
AKD is a chemical used in paper sizing that can modify the surface of wood compounds, according to Springer Link.
Kenneth Nysten, the Senior Vice President of Regional Business Unit Paper EMEA, said of the deal: "Kemira is a global leader in paper and pulp chemistry and the leading supplier of sizing products for the paper industry. This acquisition of the AKD emulsion business is one part in implementing our strategy and will further strengthen our possibilities to serve our Paper customers especially on the continental European market."
This transaction will help BASF enhance its paper chemicals portfolio to center on customer-focused products and solutions. These improvements will help decrease operation costs and increase efficiency of paper machines, MarketWatch reported.
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