Akzo Nobel to sell Catalysts, Coating Resins and Phosphorus Chemicals.Business Editors ARNHEM, the Netherlands--(BUSINESS WIRE)--Sept. 4, 2003 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. intends to sell three businesses from its Chemicals portfolio to create more room to maneuver maneuver /ma·neu·ver/ (mah-noo´ver) a skillful or dextrous method or procedure. Bracht's maneuver a method of extraction of the aftercoming head in breech presentation. for the Company. Catalysts, Coating Resins resins, n.pl complex, insoluble, sticky substances secreted by plants. Used as astringents, antimicrobials, and antiinflammatories, and are burned as incense. Can cause oral ulcers and epidermal irritations. and Phosphorus phosphorus (fŏs`fərəs) [Gr.,=light-bearing], nonmetallic chemical element; symbol P; at. no. 15; at. wt. 30.97376; m.p. 44.1°C;; b.p. about 280°C;; sp. gr. 1.82 at 20°C;; valence −3, +3, or +5. Chemicals will be divested. Hans Wijers Gerardus Johannes (Hans) Wijers (born November 11, 1951) is the current CEO of Akzo Nobel. From 1994 until 1998 he was a minister of Economic Affairs of the Netherlands. Wijers studied Economy at the Rijksuniversiteit Groningen, where he graduated in 1976. , Chairman of the Board of Management, said: "Akzo Nobel will create value by moving towards a more consistent portfolio of businesses." Added Wijers: "These planned divestments involve three excellent and profitable businesses and collectively they represent close to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1 billion in sales. It will be clear from this that we expect to realize more than the EUR 0.5 billion announced in May this year but we are not in a race against the clock to sell. The priority is creating maximum value for Akzo Nobel and its shareholders, not how fast we can do this. By the same token, we will not drag our feet either, and I expect that offers made to us will reflect the value of the businesses concerned." Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2002 totaled EUR 14 billion. The Company currently employs approximately 66,000 people in more than 80 countries. Financial results for the third quarter will be published on October 17, 2003. Internet: www.akzonobel.com www.akzonobel-catalysts.com www.akzonobelresins.com www.phosphoruschemicals.com |
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