AkzoNobel completes sale of Primary Amides business to PMC Group
January 7, 2014
AkzoNobel has completed the sale of its Primary Amides chemicals business to PMC
Group effective December 31, 2013. Financial details were not disclosed.
Under the terms of the agreement, a manufacturing facility in Kyungju, South
Korea, and all 37 employees will transfer to PMC Group with immediate effect,
along with the erucamide, oleamide and other primary and secondary amides sold
under the Armoslip® trade names.
The sale follows a review of the business' fit within AkzoNobel's Functional
Chemicals portfolio, where it operated as a standalone activity. "Our focus is
on extending our leading market position in organic peroxides and metal alkyls,
as evidenced by our recent expansion investments in China, the US and Mexico,"
explained Werner Fuhrmann, AkzoNobel's Executive Committee member responsible
for the Specialty Chemicals business.
Added Debtosh Chakrabarti, President of PMC: "We are excited about this
acquisition, which adds to our portfolio of specialty chemicals derived from
renewable oleochemicals. The business complements PMC's leading global position
in polymer additives and provides us with a strong manufacturing location in
Asia for these specialty products."
Primary Amides products are used primarily in the polymer industry to create
plastics bags and plastic films for packaging.
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About AkzoNobel
AkzoNobel is a leading global paints and coatings company and a major producer
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers for
our customers. Our portfolio includes well-known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are
consistently ranked as one of the leaders in the area of sustainability. With
operations in more than 80 countries, our 50,000 people around the world are
committed to delivering leading products and technologies to meet the growing
demands of our fast-changing world.
About PMC
PMC Group is a growth oriented, diversified, global chemicals and plastics
company dedicated to innovative solutions to everyday needs in a broad range of
end markets including plastics, consumer products, electronics, paints,
packaging, personal care, food, automotive and pharmaceuticals. The Company was
built on a sustainable model of growth through innovation while promoting social
good. PMC operates from a global manufacturing, innovation and marketing
platform with facilities in the Americas, Europe and Asia. More information
about PMC and its activities around the world can be found at www.pmc-group.com.
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AkzoNobel sales Primary Amides business:
http://hugin.info/130660/R/1753054/591235.pdf
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