Akzo Nobel Implements Name Change for Courtaulds
Arnhem, the Netherlands, September 10, 1998. - Akzo Nobel NV announces that it
will shortly change the name of Courtaulds plc, which it acquired in July, to
Akzo Nobel UK plc. The units and subsidiaries of Courtaulds plc whose names
include the word "Courtaulds" will phase out their use of that name over the
next few months and will, where applicable, adopt the Akzo Nobel name.
An announcement about the new name for the combined Fibers businesses of
Courtaulds and Akzo Nobel will be made in the near future. Akzo Nobel has
stated its intention to spin off the combined fibers business in 1999.
Akzo Nobel expects the procedure for compulsory acquisition of the outstanding
ordinary shares of Courtaulds to be completed on September 17, 1998, and will
apply to the London Stock Exchange for the Courtaulds ordinary shares to be
delisted as at that date.
The Annual General Meeting of Courtaulds plc, which was provisionally
scheduled for September 23, 1998, will be deferred to a later date.
Akzo Nobel, headquartered in the Netherlands, is a market-driven and
technology-based company, serving customers throughout the world with
healthcare products, coatings, chemicals, and fibers. The company employs
70,000 people and has activities in more than 60 countries. In 1997,
consolidated sales aggregated
NLG 24.1 billion (USD 12 billion / GBP 7.5 billion). In July of this year,
Akzo Nobel acquired control of Courtaulds through a recommended cash offer.
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Note for the editor / not for publication:
For more information please contact:
Akzo Nobel NV
John Jennings, Tel. +31 26 3664343
Ian Harrison, Tel. +44 171 6121157