8 August 2013
Details
AkzoNobel
today announced that it has received a binding offer for
the purchase of its Building Adhesives Business
by Sika AG for Euro 260 million.
The transaction,
which is expected to be completed
in the fourth quarter of this year subject to
regular consultaion with employee representatives,
will see all of Building Adhesives'
approximately 550 employees as well as
its 2 manufacturing facilities in
* Rosendahl (Germany) and
* Damville (France) and
its products and brands
transfer to Swiss-based Sika AG.
The intended sale of Building Adhesives follows
a strategic review of the business' fit within
AkzoNobel's portfolio.
About Building Adhesives Business
- Building Adhesives is a standalone business within
AkzoNobel's Decorative Paints Business area,
primarily serving the professional market in
North Western Europe
with a portfolio of brands and products including
* floor and wall leveling compounds,
* floor adhesives,
* tile setting, sealants and
* floor finishes.
- Building Adhsives Business generated
annual revenues of Euro 185 million in 2012.
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