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AkzoNobel sells building adhesives unit to Sika

7:00 AM MDT | August 9, 2013

AkzoNobel says it has received a binding offer from Sika (Baar, Switzerland) for the purchase of AkzoNobel’s building adhesives business, for €260 million ($348 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 manufacturing facilities at Rosendahl, Germany; and Damville, France, and all of the related building...

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