PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

Paint and Coatings Industry 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.

Wasser High-Tech Coatings Inc.
Wasser Coatings Protect

Wasser Coatings offer a complete range of Moisture Cure Urethane (NEPCOAT approved) systems in addition to Polyurea membranes and linings(NSF).
www.wassercoatings.com


Carboline Company
Hyrdrocarbon Fire & Jet Fire Protection

Pyroclad X1 is the latest breakthrough in epoxy based intumescent fireproofing technology


Hempel (USA) Inc.
HEMPEL PROTECTIVE COATINGS

Efficient systems and high quality products to reduce your maintenance costs. Visit Hempel Protective for more information.


Polyval Coatings
Polyflex® Polyurea Linings

Polyflex ™ new Polyurea Geotextile Membrane System has been specifically engineered to protect the environment in containment applications.
www.polyflexlinings.com


DeFelsko Corporation
PosiTector 200 for concrete

Rugged, simple and affordable coating thickness gage for concrete measures protective coatings including polyurea.


Surface Prep Supply
Surface Prep Supply

Blast It! Coat It! We have you covered every step of the way. Supplier of:
• Abrasives
• Equipment
• Accessories
• Protective Coatings
888-331-7737(PREP)


HoldTight Solutions Inc.
NO FLASH RUST -
NO CONTAMINANTS

Our HoldTight®102 salt remover & flash rush inhibitor prevents flash rust by removing surface contaminants.
Contact us for your nearest distributor. (800) 319.8802 sales@holdtight.com

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com