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11-25-2009: AkzoNobel's National Starch business is to boost its supply capability in the Asia Pacific region after agreeing to acquire Penford Australia Ltd's specialty grain wet milling and manufacturing facility in Lane Cove. Financial details were not disclosed.
The deal, which also includes certain other intellectual property and assets of Penford's Australian specialty starch business, will expand National Starch's regional capability to supply specialty corn starches into food applications in the Asia Pacific region.
"This is a strategic investment in National Starch's global portfolio which further strengthens the business' ability to support customers in the growing Asia Pacific region," said Rob Frohn, the AkzoNobel Board member responsible for Specialty Chemicals.
Final closure of the deal is expected before the end of the year.
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