09.06.05
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.
“This has been received very positively by our employees,” said Bertil Ahlberg, marketing and communication director for Akzo Nobel Inks. “This has been an ongoing procedure for the past three years, and we are very happy that a decision has been made. As a result, we will be a stand-alone company, and all of the employees will be offered the opportunity to be a shareholder.”
Akzo Nobel Inks is a market leader in the area of UV and water-based inks for narrow web printing, and a major producer and supplier of inks for the packaging, newspaper and commercial printing industry in Europe. With 37 facilities and a strong network of distributors, Akzo Nobel Inks is a global company. The primary manufacturing and mixing facilities are found in Scandinavia, the U.S., Germany and the U.K. In 2000, the consolidated sales were Euro 190 million ($175 million).
As a strong, stand-alone company, Akzo Nobel Inks can now further concentrate and focus on the development of its core areas, as well as strengthening the position as market leader in many product niche areas such as water based inks for envelopes and UV curing inks for metal decoration.
Following the divestment, all Akzo Nobel Inks companies will continue to operate under their respective names for the foreseeable future, with no interruption in service to its customers. All 900 employees worldwide will move with the business to the new owners.
“We have approval to use the name for the next three years,” said Mr. Ahlberg. “However, the official logo of the company will disappear from our company in the next six months.
Officials said that employee representative bodies and unions have been informed about the intention to divest and consultation procedures will commence shortly, where applicable. The required regulatory approvals will be sought as and when appropriate.
“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.
“This has been received very positively by our employees,” said Bertil Ahlberg, marketing and communication director for Akzo Nobel Inks. “This has been an ongoing procedure for the past three years, and we are very happy that a decision has been made. As a result, we will be a stand-alone company, and all of the employees will be offered the opportunity to be a shareholder.”
Akzo Nobel Inks is a market leader in the area of UV and water-based inks for narrow web printing, and a major producer and supplier of inks for the packaging, newspaper and commercial printing industry in Europe. With 37 facilities and a strong network of distributors, Akzo Nobel Inks is a global company. The primary manufacturing and mixing facilities are found in Scandinavia, the U.S., Germany and the U.K. In 2000, the consolidated sales were Euro 190 million ($175 million).
As a strong, stand-alone company, Akzo Nobel Inks can now further concentrate and focus on the development of its core areas, as well as strengthening the position as market leader in many product niche areas such as water based inks for envelopes and UV curing inks for metal decoration.
Following the divestment, all Akzo Nobel Inks companies will continue to operate under their respective names for the foreseeable future, with no interruption in service to its customers. All 900 employees worldwide will move with the business to the new owners.
“We have approval to use the name for the next three years,” said Mr. Ahlberg. “However, the official logo of the company will disappear from our company in the next six months.
Officials said that employee representative bodies and unions have been informed about the intention to divest and consultation procedures will commence shortly, where applicable. The required regulatory approvals will be sought as and when appropriate.