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AkzoNobel sells former paint factory in UK

July 08/2019

MOSCOW (MRC) -- AkzoNobel has sold its former paint factory located in Wexham Road, Slough, UK. The site comprises both the former Slough Manufacturing Unit and AkzoNobels Research and Development facility, said the company.

Paint production ceased on the site in 2016 and operations were relocated to AkzoNobels state-of-the-art facility in Ashington, UK. The Research and Development facility is being leased by AkzoNobel for a short time until relocated.

The AkzoNobel UK headquarters and Dulux Academy, located to the west of Wexham Road, are not included as part of the sale and continue to be actively used by AkzoNobel.

This transaction generated proceeds of EUR75 million and will be reported in the financial results for the second quarter of 2019 as a one-off gain of EUR57 million, included within identified items.

As MRC informed earlier, AkzoNobel said it is in discussions with BASF to acquire BASFs industrial coatings business. BASF confirmed that it is in discussions with AkzoNobel on the potential sale, but also declined to give further information. BASF is relatively small in industrial coatings.

Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.


mrcplast.com
Author:Anna Larionova
Tags:construction, paints and coatings, Akzo Nobel Functional Chemicals BV.
Category:General News
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