Akzo Nobel to divest PUR adhesives and systems business

Akzo Nobel to divest PUR adhesives and systems business Arnhem, the Netherlands, March 23, 2004 - Akzo Nobel today announced its intention to divest the company's industrial polyurethane (PUR) adhesives and system business to the Sika Group. Akzo Nobel expects the transaction to be concluded on April 1, 2004. The PUR business, which is part of Casco A/S, based in Fredensborg, Denmark-and its European organization-has a leading position within sandwich panel bonding systems for truck trailers and building facade panels, as well as bonding systems for wind turbine blade production. The business had sales of EUR 17 million in 2003. "The PUR adhesives business has a peripheral relationship with our Coatings businesses and no longer fits within our portfolio from a strategic perspective," explained Rudy van der Meer, Member of Akzo Nobel's Board of Management responsible for Coatings. "We have therefore decided to find an owner who has a clear focus on growing the business and this divestment should open up new opportunities in the market." Sika is one of the world´s largest producers of PUR adhesives used in load-bearing structures in construction and industry. Employee unions and representative bodies have been informed about the intention to divest and the consultation procedures will continue where applicable. All 100 employees within the business will transfer to the Sika Group. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2003 totaled EUR 13 billion. The Company currently employs approximately 64,500 people in more than 80 countries. Financial results for the first quarter will be published on April 20, 2004. Sika AG, based in Baar, Switzerland, is a leading global supplier of specialty chemicals. Sika offers process materials for sealing, bonding, damping, reinforcing and protecting of load-bearing structures in construction (buildings and infrastructure) and in industry (transportation, automotive, marine and appliances & equipment). Sika's product line includes concrete admixtures, speciality mortars, sealants, adhesives, speciality acoustic and reinforcing materials, structural strengthening systems, industrial flooring and membranes. Locally based operations in more than 66 countries with over 8,500 employees connect customers directly with Sika and guarantee for the success of all our partners. With this concept Sika achieves annual sales of approximately CHF 2.3 billion. Internet: www.akzonobel.com; www.sika.com Not for publication - for more information Akzo Nobel N.V. Marc Michelsen, Manager Corporate Communications, tel. +31 26 366 4343 Safe Harbor Statement* This press release may contain statements which address such key issues as Akzo Nobel's growth strategy, future financial results, market positions, product development, pharmaceutical products in the pipeline, and product approvals. Such statements should be carefully considered and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more complete discussion of the risk factors affecting our business please refer to our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission. A copy of which can be found on the Company's website. * Pursuant to the U.S. Private Securities Litigation Reform Act 1995. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/03/23/20040323BIT20110/wkr0006.pdf Pressmeddelande som pdf