Akzo Nobel signed agreement to sell Lilamin business
Akzo Nobel's Surfactants business has announced its intention to divest the company's European Lilamin business-a supplier of mineral coating agents to the fertilizer industry-to CECA SA, a division of the Arkema Group. The mutually beneficial agreement-which also involves the sale of part of CECA's Primary amines business to Akzo Nobel-is expected to be completed during the third quarter of 2007.
Under the terms of the deal, CECA's Specialty Chemicals business will also become the distributor for Akzo Nobel Surfactants Europe's Petro products to the mineral coatings industry.
Unions and employee representative bodies have been informed and consultation procedures will begin shortly, where applicable. Regulatory approvals will also be sought as and where appropriate.
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