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August 11, 2005
By: KERRY PIANOFORTE
Akzo Nobel divests its uv/eb resins business Akzo Nobel has signed an agreement to sell its UV/EB resins business to Cray Valley S.A. of France, which is part of the Total Group. Sales of the business were E27 million in 2003. Akzo Nobel announced its intention to sell this business, which is part of coating resins, in Sept. 2003 as part of a divestment program aimed at strengthening the company’s balance sheet and creating more financial room to maneuver. Closing of the UV/EB transaction is expected to be in the final quarter of 2004. The divestment covers its entire business, which has locations in Eccles, UK and New Brunswick, NJ.
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