AkzoNobel sell Primary Amides business to US oufit
Paint and coatings giant AkzoNobel, who operate an Ashington base, have sold their Primary Amides business to US headquartered PMC Group.
The deal was closed on December 31 for an undisclosed sum and means PMC will take control of the firm’s factory in South Korea.
The sale follows a “review” of the business which operated under AkzoNobel’s chemicals portfolio as a standalone business.
AkzoNobel’s chief executive committee member, Werner Fuhrmann said: “Our focus is on extending our leading market position in organic peroxides and metal alkyls, as evidenced by our recent expansion investments in China, the US and Mexico.”
Debtosh Chakrabarti, President of PMC, added: “We are excited about this acquisition, which adds to our portfolio of specialty chemicals derived from renewable oleochemicals.
“The business complements PMC’s leading global position in polymer additives and provides us with a strong manufacturing location in Asia for these specialty products.”
Primary Amides products are used primarily in the polymer industry to create plastics bags and plastic films for packaging.
This was posted in Bdaily's Members' News section by Tom Keighley .
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