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Akzo Nobel to sell non-stick coatings business

Published: 16 January 2009
Dutch chemicals company has agreed deal with US firm Whitford Worldwide for an undisclosed sum.
Akzo Nobel to sell non-stick coatings business
The deal involves Akzo Nobel's global cookware and bakeware activities, which operate out of five sites in the US, China, India, Brazil and Italy.

The sale is expected to complete in the first quarter of 2009.

Akzo Nobel board member responsible for performance coatings, Leif Darner said: "Although it is a solid business, our non-stick coatings operation does not have the scale for it to be come a true market leader globally.

"In the hands of the new owners, however, it offers good growth opportunities and we are convinced our employees are joining an ambitious and successful company run by capable professionals who we trust to take the business forward."

Whitford Worldwide's ceo Dave Willis said of the deal: "Acquiring Akzo Nobel's non-stick activities gives us access to cutting-edge technology and expertise, which will enable us to significantly expand our portfolio."

Whitford Worldwide manufactures a wide range of non-stick coatings for consumer applications of all types, including frying pans, coffee-plate warmers and waffle makers.

Founded in 1969, the company also manufactures coatings for chemical processing and petrochemical industries.

Akzo Nobel's non-stick coatings business employs around 140 people. Details about how many will be transferred are still being discussed. Unions and employee representative bodies have been informed and consultation procedures will begin shortly.

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