Akzo Nobel divests two chemicals businesses

Pigment & Resin Technology

ISSN: 0369-9420

Article publication date: 1 December 2004

Citation

(2004), "Akzo Nobel divests two chemicals businesses", Pigment & Resin Technology, Vol. 33 No. 6. https://doi.org/10.1108/prt.2004.12933fab.020

Publisher

:

Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited


Akzo Nobel divests two chemicals businesses

Akzo Nobel divests two chemicals businesses

Akzo Nobel has completed the sale of its catalysts and phosphorus chemicals businesses for a total of some EUR 850 million, free of cash and debt and prior to final closing adjustments for working capital. “We will use the proceeds to reduce net debt and to strategically upgrade our portfolio,” said Hans Wijers, Chairman of Akzo Nobel’s board of management. Both deals involve all assets and all current employees of the businesses. The catalysts divestment includes shares in joint venture companies. Unions and employee representative bodies, where applicable, have advised positively on the sales and all required regulatory approvals have been obtained.