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Markets :: Specialty Chemicals :: Paints and Coatings

AkzoNobel Completes Demerger of Pakistan Activities

12:37 AM MDT | June 14, 2012 | Deepti Ramesh

AkzoNobel says it has completed the previously announced restructuring of its activities in Pakistan by formally establishing AkzoNobel Pakistan as a separate legal entity from ICI Pakistan. The new AkzoNobel Pakistan business is focused on three areas – decorative paints, performance coatings and specialty chemicals. AkzoNobel has also started the formal sale process to divest its 75.81% shareholding in ICI Pakistan. AkzoNobel had announced its plans to restructure the business in Pakistan, in April 2011. ICI Pakistan has been a subsidiary of AzkoNobel...

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