AkzoNobel India to sell specialty chemicals business for Rs.320 crore – Feedback

Paints and coatings firm AkzoNobel India today said it will sell its specialty chemicals business as a going concern to an affiliate of the AkzoNobel Group for Rs 320 crore.

Transaction is subject to shareholders approval.The business includes the Mahad manufacturing facility for polymer chemistry range of products, the company said, adding that business also handles a trading portfolio in polymer and surface chemistry products sourced from other units of AkzoNobel.

Besides, about 80 employees, currently working with the business, will transfer under the deal.

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