AkzoNobel Sells Chemicals Unit for $12.5B

March 27, 2018
The transaction creates a business for AkzoNobel solely focused on paint and coatings.

March 27, 2018—AkzoNobel announced today the sale of 100 percent of its speciality chemicals business to The Carlyle Group and GIC for $12.5 billion.

“We decided last year to build a focused paint and coatings company," said Joost Ruempol, spokesperson for AkzoNobel. "And to get to that point we needed to sell our chemicals business.”

The transaction creates a business for AkzoNobel solely focused on paint and coatings, according to the AkzoNobel press release. This is part of the company's strategy announced in April 2017 to better develop its paint and coatings unit. The plan included the separation of speciality chemicals within 12 months and majority of net proceeds returned to shareholders.

“Our strategy is aiming to get more profitability by only focusing on paint and coatings," Ruempol said.

Sponsored Recommendations

Best Body Shop and the 360-Degree-Concept

Spanesi ‘360-Degree-Concept’ Enables Kansas Body Shop to Complete High-Quality Repairs

How Fender Bender Operator of the Year, Morrow Collision Center, Achieves Their Spot-On Measurements

Learn how Fender Bender Operator of the Year, Morrison Collision Center, equipped their new collision facility with “sleek and modern” equipment and tools from Spanesi Americas...

ADAS Applications: What They Are & What They Do

Learn how ADAS utilizes sensors such as radar, sonar, lidar and cameras to perceive the world around the vehicle, and either provide critical information to the driver or take...

Banking on Bigger Profits with a Heavy-Duty Truck Paint Booth

The addition of a heavy-duty paint booth for oversized trucks & vehicles can open the door to new or expanded service opportunities.