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AkzoNobel to sell building adhesives business to Sika for €260 million

1:02 AM MDT | August 8, 2013 | Natasha Alperowicz

AkzoNobel announced today that it has received a binding offer from Sika (Baar, Switzerland) for the purchase of AkzoNobel’s building adhesives business for €260 million ($346.7 million). The business generated revenues of €185 million in 2012. The transaction, subject to regular consultation with employee representatives, is expected to be completed in the fourth quarter.    Sika, a specialty chemicals company active in the building and construction industry, will take over two manufacturing facilities based at Rosendahl...

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