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AkzoNobel exits merchant fatty acid business at Binzhou, China; cuts 200 jobs; announces €65-million investment

6:14 AM MDT | March 19, 2013 | Deepti Ramesh

AkzoNobel says it will exit the merchant fatty acid business at Binzhou, Shandong Province, China, closing down two out of the three fatty acid plants at the site. Nearly 200 employees at the site will be laid off as a result. The Binzhou site became a part of AkzoNobel, through the January 2012 acquisition of Boxing Oleochemicals (Binzhou), a supplier of nitrile amines and derivatives. AkzoNobel did not say when the fatty acid plants will be shut down. “The exit from the fatty acid market will require some restructuring; more details will be unveiled as...

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