AkzoNobel to Divest Building Adhesives Business to Sika AG
AkzoNobel has received a binding offer for the purchase of its Building Adhesives business by Sika AG for € 260 million. Building Adhesives generated annual revenues of € 185 million in 2012. The transaction, which is expected to be completed in the fourth quarter of this year subject to regular consultation with employee representatives, will see all of Building Adhesives’ approximately 550 employees as well as its two manufacturing facilities in Rosendahl (Germany) and Damville (France) and its products and brands transfer to Swiss-based Sika AG. To read the full story visit www.business-standard.com.