media release

Flexsys Stake To Be Sold

Akzo Nobel is in talks with several interested buyers over the sale of its stake in Flexsys, a 50/50 joint venture with American firm Solutia Inc.

Brussels-based Flexsys, which has annual sales of around USD 600 million, is the world’s largest maker of rubber additives, but Akzo Nobel has taken the strategic decision to divest its 50 per cent stake.

“After considering our participation in Flexsys, we decided that it is not a core business,” explained spokesman John de Munnik. “Flexsys is a profitable company and we expect offers will reflect this.”

Solutia has also announced that it wants to sell on its 50 per cent stake as part of a plan to withdraw from all its joint ventures.

Flexsys was formed in 1995 when Akzo Nobel and Monsanto combined their rubber chemical businesses. In 1997, Monsanto’s spin-off, Solutia, took over the Flexsys stake.

The chemicals produced by Flexsys are used to cure and protect rubber and as additives in rubber tires, hoses and shoe soles to provide heat resistance, increase durability and control color.

(Released: June 6, 2001)