AkzoNobel plans separation of specialty chemicals business

The company also rejected PPG's proposal to buyout AkzoNobel in a cash & stock deal

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BS B2B Bureau Amsterdam, Netherlands

Last Updated : Mar 09 2017 | 12:42 PM IST

The Netherlands-based AkzoNobel, one of the world’s leading paints, coatings and chemicals companies, announced that it was reviewing strategic options for the separation of its specialty chemicals business. Meanwhile, the company also rejected the unsolicited, non-binding and conditional proposal from PPG for acquiring AkzoNobel in a cash & stock deal.

For the year 2016, AkzoNobel’s total revenues stood at € 14.2 billion, with specialty chemicals business accounting for € 4.8 billion. The specialty chemicals business is strongly positioned with a broad portfolio of leading technologies and chemicals which service a wide range of end-user segments including construction, industrial and consumer goods.

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