Citation
(2004), "Akzo Nobel sells resins business in France", Pigment & Resin Technology, Vol. 33 No. 5. https://doi.org/10.1108/prt.2004.12933eab.030
Publisher
:Emerald Group Publishing Limited
Copyright © 2004, Emerald Group Publishing Limited
Akzo Nobel sells resins business in France
Akzo Nobel sells resins business in France
Akzo Nobel announced the sale of its French industrial resins business Casco Industrie SnC to Derivados Forestales S.A. of Spain. Terms were not announced. The Casco business, with sales of 17 million Euros in 2003, is a manufacturer of formaldehyde and resins sold primarily to the particleboard industry in France.
The sale does not include Casco’s wood-adhesives operations in France, and Akzo Nobel said Casco Adhesives will assume supply functions for the Derivados group’s wood-adhesives customers in Spain and Portugal. Derivados, in turn, will toll produce wood adhesives for Casco. Derivados is a producer of formaldehyde-based products and resins for particleboard.
Rudy van der Meer, the member of the Akzo Nobel Board of Management responsible for coatings, said the Casco industrial resins business “had become strategically distanced from our Coatings portfolio.” At the same time, he said the transaction strengthens the company’s wood- adhesives position in southern Europe.