AkzoNobel completes split from ICI Pakistan

14 June 2012 09:44  [Source: ICIS news]

SINGAPORE (ICIS)--Dutch producer AkzoNobel has completed its split from ICI Pakistan and started a formal sale to divest its 75.81% stake in the company, AkzoNobel said on Thursday.

Further details of the sale process were not immediately available.

AkzoNobel Pakistan, now established as a separate legal entity from ICI Pakistan, will focus on three core areas: decorative paints, performance coatings and specialty chemicals, AkzoNobel said in a statement.

ICI Pakistan’s business now comprises polyester fiber, soda ash, life sciences and chemicals, according to AkzoNobel.

ICI Pakistan had been a subsidiary of AkzoNobel since 2008, when the Dutch company acquired Imperial Chemical Industries.

By: Joey Lau

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