ARNHEM, The Netherlands - Akzo Nobel Coatings announced plans to divest its Printing Inks business to the European private equity company NeSBIC Buy Out Fund and the management of the ink business. Completion of the transaction is anticipated by the end of the year.

Rudy van der Meer, the member of Akzo Nobel's Board of Management responsible for coatings, said that while the Printing Inks business holds strong market positions in Scandinavia and northern Europe, the company determined that it no longer fit the strategic plans for the coatings business. The Printing Inks business sells products in 50 countries and has primary manufacturing and mixing facilities in Scandinavia, the United States, Germany, and the United Kingdom. All 900 employees worldwide are expected to transfer to the new ownership, Akzo Nobel said.