Akzo Nobel divests Polymerization Catalysts

15-Feb-2006

Akzo Nobel has signed an agreement to divest its Polymerization catalysts & Components Business in the United States to Basell polyolefins. The deal includes the catalyst manufacturing business and other assets located at the company's site in Edison, New Jersey. The business had a turnover of almost USD 60 million in 2005. All 79 employees will transfer to the new owners.

The Edison site produces Avant® catalysts for Basell licensees, as well as toll producing other polyolefin custom catalyst systems and preparing catalyst components used in polyolefins and other specialty chemicals.

This agreement is the third Chemicals divestment announced by Akzo Nobel in 2006 following deals to sell the Electro Magnetic Compatibility business in Japan and the company's 65 percent majority interest in its Malaysian oleochemicals joint venture. The remaining divestments are expected to be completed by the middle of the year.

Other news from the department business & finance

Most read news

More news from our other portals

Discover the latest developments in battery technology!