Arnhem, the Netherlands, March 23, 2004 - Akzo Nobel today announced its intention to divest the company’s industrial polyurethane (PUR) adhesives and system business to the Sika Group. Akzo Nobel expects the transaction to be concluded on
April 1, 2004.
The PUR business, which is part of Casco A/S, based in Fredensborg, Denmark—and its European organization—has a leading position within sandwich panel bonding systems for truck trailers and building facade panels, as well as bonding systems for wind turbine blade production. The business had sales of EUR 17 million in 2003.
“The PUR adhesives business has a peripheral relationship with our Coatings businesses and no longer fits within our portfolio from a strategic perspective,” explained Rudy van der Meer, Member of Akzo Nobel’s Board of Management responsible for Coatings. “We have therefore decided to find an owner who has a clear focus on growing the business and this divestment should open up new opportunities in the market.”
Sika is one of the world´s largest producers of PUR adhesives used in load-bearing structures in construction and industry.
Employee unions and representative bodies have been informed about the intention to divest and the consultation procedures will continue where applicable. All 100 employees within the business will transfer to the Sika Group.
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