Akzo Nobel sells stake in Flexsys business.Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. , Arnhem, The Netherlands, has reached an agreement in principle to sell its 50% stake in rubber chemicals business Flexsys to Solutia Inc Solutia Inc. is a chemical production company. It was formed in 1997 as a spin-off of Monsanto Company. History Monsanto's core business was chemicals, and so Solutia traces its antecedents back to the foundation of Monsanto in St. Louis in 1901. ., Akzo's joint venture partner. The proposed deal also includes the sale of Akzo Nobel's toll manufacturing operation for Flexsys, located in Japan. "The recent realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. of our Chemicals portfolio concentrated our focus on core business," explains Leif Darner darn·er n. 1. One that darns. 2. Northeastern, Upper Northern, & Western U.S. See dragonfly. See Regional Note at dragonfly. , Akzo Nobel's Board member responsible for Chemicals. "Our stake in Flexsys no longer fitted with our future growth plans and this deal will enable Solutia to build the business as the sole, dedicated owner." Formed in 1995, Flexys is a global supplier of chemicals to the rubber industry and employs approximately 1,000 people worldwide. |
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