AkzoNobel Finalizes Divestment
AkzoNobel has finalized the divestment of its Building Adhesives business to Sika AG in a deal worth over $350 million Euro. The deal was first announced on Aug. 8.
Under the terms of the deal, all of Building Adhesives' approximately 550 employees have transferred to the new owners, along with the business' two manufacturing facilities in Rosendahl (Germany) and Damville (France) and its products and brands.
The sale of Building Adhesives is in line with the strategic review of the business' fit within AkzoNobel's portfolio, whereby the focus of the Decorative Paints business is on the strong strategic paints positions we have in Europe and the growth markets of Asia and South America.