AkzoNobel Completes Sale of Building Adhesives Business to Sika
AkzoNobel recently announced it has finalized the €260 million (~ $352 million) divestment of its Building Adhesives business to Sika AG. Under the terms of the deal, all of Building Adhesives’ approximately 550 employees have transferred to the new owners, along with the business’ two manufacturing facilities (in Rosendahl, Germany, and Damville, France) and its products and brands.
The sale of Building Adhesives is reportedly in line with the strategic review of the business’ fit within AkzoNobel’s portfolio, whereby the focus of the Decorative Paints business is on the strong strategic paints positions the company has in Europe and the growth markets of Asia and South America.
For more information, visit www.akzonobel.com.