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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Akzo to Sell Nobilas Unit

5:34 AM MDT | October 11, 2007 | Kerri Walsh

Akzo Nobel says it plans to divest its Nobilas Claims & Fleet solutions business to U.K.-based Innovation Group. Financial terms of the deal were not disclosed. Nobilas provides car repair process management skills with claims management and incident services. The business handles an annual volume of more than 300,000 repairs and services, Akzo says. The managed repairs are valued at about €190 million ($269.5 million). Nobilias no longer fits in with Akzo Nobel’s growth plans because Nobilias is moving towards non-paint relating outsourcing activities, says...

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