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    Breaking News

    AkzoNobel Completes Sale of Primary Amides Business to PMC Group

    01.08.14
    AkzoNobel has completed the sale of its Primary Amides chemicals business to PMC
    Group effective December 31, 2013. Financial details were not
    disclosed.

    Under the terms of the agreement, a manufacturing facility in Kyungju,
    South Korea, and all 37 employees will transfer to PMC Group with
    immediate effect, along with the erucamide, oleamide and other primary
    and secondary amides sold under the Armoslip(R) trade names.

    The sale follows a review of the business' fit within AkzoNobel's
    Functional Chemicals portfolio, where it operated as a standalone
    activity. "Our focus is on extending our leading market position in
    organic peroxides and metal alkyls, as evidenced by our recent
    expansion investments in China, the US and Mexico," explained Werner
    Fuhrmann, AkzoNobel's Executive Committee member responsible for the
    Specialty Chemicals business.

    Added Debtosh Chakrabarti, President of PMC: "We are excited about this
    acquisition, which adds to our portfolio of specialty chemicals derived
    from renewable oleochemicals. The business complements PMC's leading
    global position in polymer additives and provides us with a strong
    manufacturing location in Asia for these specialty products."

    Primary Amides products are used primarily in the polymer industry to
    create plastics bags and plastic films for packaging.
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