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Kao Sells Part of Business to AkzoNobel

Monday, November 10, 2008

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A subsidiary of Kao Corporation (Japan), Kao Chemicals Europe, S.L. (Barcelona, Spain), signed an agreement to sell part of its fatty amine business in Europe to AkzoNobel’s Surface Chemistry. The agreement will be completed in the fourth quarter of 2008.

 

The transaction will optimize Kao’s resources and enhance the business, according to Dr. Takatoshi Kobayashi, president and CEO of Kao Chemicals Europe. The company plans on retaining other parts of its business, such as asphalt and fertilizer additives. Both union and employee representatives have been informed, and the consultation procedures will begin in the near future.

   

Tagged categories: Acquisitions; AkzoNobel; Kao Chemicals

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