OREANDA-NEWS. January 28, 2013. KfW IPEX-Bank is providing the financing for an innovative investment in the form of a EUR 120 million loan. The loan will be used by AkzoNobel, which has its headquarters in Amsterdam/Netherlands, to change its chlorine production process at its location at the Hochst industrial park near Frankfurt. The mercury amalgam plant used thus far will be replaced by a new membrane electrolysis plant by the last quarter of 2013.

The state-of-the-art technology will produce electricity savings of nearly 30% compared to the mercury amalgan process. In addition, there will be no more traces of mercury in wastewater streams in the future. The project meets the strict conditions of the KfW Environmental Programme under which the funds are being provided.

Markus Scheer, member of the Management Board of KfW IPEX-Bank, is pleased about the successful close of the financing: "We are thrilled that our financing was able to contribute to a forward-looking investment in environmental protection and resource conservation by our long-term client AkzoNobel. The financing of environmental and climate protection measures forms part of the core business of KfW IPEX-Bank."

AkzoNobel is one of the world's leading specialty chemicals companies. In Germany the group employs altogether more than 4,000 people at 30 different locations.