AkzoNobel To Sell Building Adhesives Business To Sika AG

AkzoNobel to sell building adhesives business to Sika

9:51 AM, 8th August 2013
AkzoNobel Business News
Ton Buchner, CEO, AkzoNobel.

AMSTERDAM, THE NETHERLANDS: AkzoNobel has received a binding offer for the purchase of its building adhesives business by Sika AG for €260 million. The transaction is expected to be completed in the fourth quarter of 2013. The transaction will see all of building adhesives’ approximately 550 employees as well as its two manufacturing facilities in Rosendahl, Germany and Damville, France and its products and brands transfer to Sika AG.

“We want to focus our decorative paints business at AkzoNobel on the strong strategic paint positions we have in Europe and the growth markets of Asia and South America. The intended sale of building adhesives is in line with this strategy. In Sika, with its portfolio of businesses in this industry, we are pleased to have found a good future home for this business,” said Ton Buchner, CEO, AkzoNobel.

 

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