AkzoNobel to Sell PTA Business in Pakistan to Korean Firm

AkzoNobel says it has agreed to divest its 75% stake in the purified terephthalic acid (PTA) activities of its Chemicals Pakistan business to petrochemical firm KP Chemical (Seoul). The business does not fit with the rest of AkzoNobel’s portfolio, the company says. Financial details of the deal were not disclosed. The transaction is expected to be completed in the fourth quarter of 2009. AkzoNobel acquired a 75% stake in Pakistan PTA Ltd., which is listed on the Karachi Stock Exchange, as part of the acquisition of ICI in 2008. AkzoNobel told CW last year...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers