Durability + Design
Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site

 

D+D News

Main News Page


AkzoNobel Announces Sale of National Starch

Monday, June 21, 2010

Comment | More

Akzo Nobel N.V. (AkzoNobel) on Monday announced the sale of its National Starch business to Illinois-based Corn Products International for $1.3 billion in cash and the assumption of certain pension and employee-benefit liabilities.

The transaction, which has been approved by the boards of AkzoNobel and Corn Products International, is expected to close at the end of the third quarter, subject to regulatory approvals, AkzoNobel said.

Corn Products International, based in Westchester, Ill., is a major global supplier of ingredient solutions for diversified industries.

National Starch, a subsidiary of the former ICI plc, was absorbed by AkzoNobel as part of the acquisition of ICI in January 2008. "While it was regarded as an excellent business, the board of AkzoNobel concluded that National Starch did not offer sufficient opportunity to create value within the company's transformed coatings and specialty-chemicals portfolio," AkzoNobel said in an announcement on the sale.

National Starch is a manufacturer of food ingredients and specialty starches for papermaking, consumer, and industrial markets. The business reported 2009 revenue of $1.2 billion. The company's product range includes materials used in adhesives, coatings, and polymers; construction mortars, pastes, and cements; packaging; and other materials.

AkzoNobel disclosed in April that it had received "renewed expressions of interest" in National Starch, which had accordingly been reclassified as a discontinued operation.

AkzoNobel CEO Hans Wijers said the sale reflects a "strong focus on our core business and confirms AkzoNobel's transformation into the world's largest global coatings and specialty chemicals company." He added, "We can look to the future with much confidence, as we are well positioned to capture growth both organically and by selected acquisitions."

Ilene Gordon, chairman, president, and CEO of Corn Products International, said the acquisition of National Starch "represents an exceptional opportunity for Corn Products International and a significant step forward toward achieving our strategic goals." She said the acquisition "aligns with our strategic priorities to grow our ingredient portfolio, increase our presence in priority food-processing segments, enter new markets, and develop innovative solutions that better serve our customers."

   

Tagged categories: AkzoNobel; Coatings manufacturers; Coatings raw materials manufacturers

Comment Join the Conversation:

Sign in to our community to add your comments.

Advertisements
 
PPG Paints
 
NEW FORMULA! PPG PAINTS™ SEAL GRIP® PRIMER
 
PPG Paints Seal Grip Interior/Exterior Acrylic Universal Primer/Sealer has been reformulated to meet your toughest interior and exterior primer requirements.
VIEW PRODUCT
 

 
RCI, Inc.
 
RCI Building Envelope Technology Symposium
 
November 13-14, 2017 | Orlando, Florida | Learn valuable design and repair insights from 20 leading design experts. RCI, Inc. is an AIA LU provider. Learn more.
 

 
Greenbuild
 
Greenbuild and ABX Together in Boston
 
Come to Boston and enjoy a 2 in 1 event! Greenbuild and ABX come together with over 700 exhibitors from the construction and design industry - register today!
 

 
World of Concrete
 
WOC 2018 – Las Vegas, NV
 
Visit the WOC website for more details about the World of Concrete 2018: January 23-26; Seminars 22-26 at the Las Vegas Convention Center in Las Vegas, NV, USA.
 

 
Atlas Material Testing Technology
 
Helping You Put Your Products To The Test
 
  • Outdoor Accelerated Weathering
  • Laboratory Testing Services
  • Accelerated Weathering Instruments

  • www.atlas-mts.com
    atlas.info@ametek.com
 

 
LATICRETE International, Inc.
 
SPARTACOTE Flex PURE Clinical Plus Coatings
 
Equipped with antimicrobial technology, fast-cure systems and high-traction features. Ideal for demanding environments. Customizable colors and textures.
 

 
A&I Coatings
 
Vitreflon – the hallmark of colour stable protective coatings
 
Vitreflon two pack fluoropolymer coatings display unsurpassed colour and gloss retention making Vitreflon the coating of choice for high value infrastructure and architecture. Contact us today to find out how Vitreflon can outperform on your next project. Vitreflon distributorships available.
 

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@durabilityanddesign.com


The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 

© Copyright 2012-2017, Technology Publishing Co., All rights reserved