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AkzoNobel has sold its former paint factory located in Wexham Road, Slough, UK. The site comprises both the former Slough Manufacturing Unit and AkzoNobel’s Research and Development facility.
Paint production ceased on the site in 2016 and operations were relocated to AkzoNobel’s state-of-the-art facility in Ashington, UK. The Research and Development facility is being leased by AkzoNobel for a short time until relocated.
The AkzoNobel UK headquarters and Dulux Academy, located to the west of Wexham Road, are not included as part of the sale and continue to be actively used by AkzoNobel.
This transaction generated proceeds of €75 million and will be reported in the financial results for the second quarter of 2019 as a one-off gain of €57 million, included within identified items.