Akzo Nobel (Eka Chemicals) post 2Q07 figures

The figures for the second quarter of 2007 show the chemicals division of Akzo Nobel to have increased EBITDA by 22% (cost improvement) and achieved an organic growth of 4%. The comments specifically related to the pulp and paper chemicals business were:

" ..... the proceeds from higher selling prices were partly off-set by the continued rise of raw material and energy costs." In the presentation of Hans Wijers, the pulp and paper chemicals business is reported to have grown by 6%:

Sales 2Q07: EUR 247 mio (EUR 242mio in 2006)
Sales Jan-Jun 2007: EUR 492 mio (EUR 489 mio in 2006)

Other comments were:

• There was a negative revenue effect from the transfer of the U.S. hydrogen peroxide business to the OCI joint venture.
• In Brazil, an important long-term supply contract for chlorate and chlorine dioxide to VCP (world's largest pulp mill) was secured.
  
• Paper Chemicals continued to achieve good volume growth in Asia. The new plant in Southern China is operating well.

The full report is available from the Akzo Nobel web site.