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Akzo Nobel Coatings has sold its French industrial resins
business to Spanish company Derivados Forestales S.A. All 36 employees
have transferred to the new business.
Trading under the name Casco Industrie SnC., Akzo Nobel's
resins operations in France manufactured formaldehyde and resins at the
facility in Ambarès and had most of its customers in the French
particle board industry. The business had sales of EUR 17 million in 2003.
Casco's wood adhesives operations in France were not
included in the sale. In fact, Casco Adhesives will take over the Derivados
group's wood adhesives customers in Spain and Portugal. In turn, the Derivados
group will be a toll producer of wood adhesives for Casco Adhesives, especially
at Ambarès.
"The industrial resins operations in France had
become strategically distanced from our Coatings portfolio," explained
Rudy van der Meer, Member of Akzo Nobel's Board of Management responsible
for Coatings. "This deal ensures the continued expansion of the Ambarès
operation under an owner who is looking to grow the business, while at
the same time strengthening the position of our wood adhesives sector
in southern Europe."
The Derivados group is globally active in the field of
formaldehyde-based products and its operations include the manufacture
and sale of particle board resins in Spain.
Employee unions and representative bodies have been informed
about the divestment.
Source: Akzo Nobel
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