AkzoNobel today announced the sale of its biomaterials technology to Ashland Inc. The transaction is expected to be completed in the third quarter of this year.
The business is in its early phase of commercialization and the divestment of this biomaterials technology follows a strategic review of the business' fit within AkzoNobel's portfolio. This transaction will enable us to focus on our core technology platforms - specialty surfactants and polymers - and help reinforce our leadership position in both areas.
The biomaterials activities are focused on plant-based chemistry, which is used to develop products for various applications, such as high performance beauty technologies.
AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. Calling on centuries of expertise, we supply industries and consumers worldwide with innovative products and sustainable technologies designed to meet the growing demands of our fast-changing planet. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as one of the leaders in the area of sustainability, we are committed to making life more liveable and our cities more human.
About Ashland Inc.
Ashland Inc. is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. Through our three commercial units - Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline - we use good chemistry to make great things happen for customers in more than 100 countries.