ICI Takes Control of Korea JV

ICI has agreed to buy the 30% it does not own in Dongsung NSC (Busan, Korea), a specialty adhesives maker, from Dongsung Chemical (Busan), for $29 million. The deal is due to be completed by mid-2007. Dongsung NSC supplies specialty adhesives to the footwear industry, and has sales and manufacturing activities in Indonesia, Korea, Thailand, Mexico, and Vietnam, as well as China, the biggest manufacturer of sports footwear. National Starch, an ICI subsidiary, acquired a 70% stake in Dongsung Chemical’s footwear adhesive business for $57.8 million in 1998...

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