l The TotalFinaElf group has concluded a memorandum of understanding with Bain Capital for the proposed disposal of its SigmaKalon paint business. The completion of the agreement is subject to trade union information and consultation procedures and to the approval of the relevant authorities in the countries concerned, according to the company. This sale is in line with the plan launched in 2000 by ATOFINA, the group’s chemicals branch, to reposition and refocus its business activities.
SigmaKalon holds a leading position in Europe in the decorative paints sector as well as a major presence in the marine, anti-corrosion and industrial paints markets. SigmaKalon reported sales of $1.5 billion in 2001, 75% of which were in the decorative paint sector. Bain Capital is a global private investment firm with more than $14 billion in total assets.
l Thanks to the educational outreach and lead hazard reduction efforts of CLEARCorps/Detroit, more than 100 families in Detroit, MI have been trained in lead-safe behaviors and have had lead hazards reduced in their homes
TotalFinaElf Intends to Sell SigmaKalon
Published August 10, 2005
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