Akzo Nobel announced its intention to sell this business – part of Coating Resins – in September 2003 as part of a divestment program aimed at strengthening the Company’s balance sheet and creating more financial room to maneuver.
In August 2004, Akzo Nobel completed the sale of its Catalysts and Phosphorus Chemicals businesses for a total of around EUR 850 million. The divestment of the main part of the Coating Resins business is on schedule and is expected to be completed in 2004.
Closing of the UV/EB transaction is expected to be in the final quarter of 2004. The divestment covers the entire business. Key locations are Eccles in the United Kingdom and New Brunswick (New Jersey) in the United States. Employee representative bodies and unions have been informed. Regulatory approvals will be sought as and where appropriate.
UV/EB Resins’ – acrylated monomers and oligomers – market focus is primarily on the inks, wood coatings, plastic coatings and opto-electronics segments.