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. --- 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. Not for publication - for more information AkzoNobel                                         AkzoNobel Corporate Media Relations                                   Corporate Investor Relations T +31 20 502 7833                                          T +31 20 502 7854 Contact: Kirstin Steffen                                       Contacts: Jonathan Atack, Sheryl Stokes PMC Group Inc. Media Contact: Laura Stocker +1 717 832 1100 laura@tincansunlimited.com Safe Harbor Statement This press release contains statements which address key issues such as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website www.akzonobel.com AkzoNobel sales Primary Amides business: http://hugin.info/130660/R/1753054/591235.pdf This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Akzo Nobel NV via GlobeNewswire [HUG#1753054]