Akzo Nobel receives EUR 110 million offer for Coating Resins business
Akzo Nobel receives EUR 110 million offer for Coating Resins business Arnhem, the Netherlands, October 15, 2004 - Akzo Nobel has received an offer of EUR 110 million from Nuplex Industries Limited for its Coating Resins business, free of cash and debt. Coating Resins sales amounted to EUR 256 million in 2003, while EBITDA amounted to EUR 18 million before corporate charges. Akzo Nobel announced its intention to sell this business in September 2003 as part of a divestment program aimed at strengthening the Company's balance sheet and creating more financial room to maneuver. "The transaction