Akzo Nobel Coatings intends to divest its Printing Inks business to the private equity company NeSBIC Buy Out Fund and the management of the printing ink business for an undisclosed amount. The transaction is expected to be concluded by the end of this year.
“We are very pleased to announce that the printing inks business plans to join NeSBIC, and that the management will take an equity stake,” commented Rudy van der Meer, member of Akzo Nobel’s Board of Management responsible for coatings. “Furthermore, all employees will be offered the same opportunity. This is a good deal for everybody.”
“While printing inks delivered a positive financial performance in 2001 under difficult market circumstances, and has a number of leading positions in Scandinavia and Northern Europe, our view is that it no longer fits within our product portfolio from a strategic perspective,” Mr. van der Meer said.
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