UV/EB resins divested
11 Oct 2004
Akzo Nobel has signed an agreement to sell its Ultra Violet/ Electron Beam (UV/EB) Resins business to Total Group subsidiary Cray Valley of France.
Akzo Nobel had announced its intention to sell the business - part of Coating Resins - back in September 2003.
Closing of the UV/EB transaction is expected to be in the final quarter of 2004. The divestment itself covers the entire business which has locations are Eccles in the UK and New Brunswick (New Jersey) in the US.
The UV/EB Resins business, with 27 million Euros in sales in 2003, produces acrylated monomers and oligomers. It focuses primarily on the inks, wood coatings, plastic coatings and opto-electronics market segments.
In a seperate deal in August, the company announced that it was to divest part of its liquid coatings activities in agriculture and construction equipment (ACE) to BASF, and, in a separate deal, Akzo Nobel would acquire BASF Coatings' wood construction business.
The latest sell off is part of a divestment program that has also seen Akzo Nobel sell off its Catalysts and Phosphorus Chemicals businesses for around 850 million Euros.
