AkzoNobel to Divest Non-Stick Coatings Activities
January 20, 2009
AMSTERDAM, the Netherlands - AkzoNobel has agreed to divest its non-stick coatings business to privately owned, U.S.-based Whitford Worldwide, Elverson, PA.
The deal involves AkzoNobel's global cookware and bakeware activities, which operate out of five sites in the United States, China, India, Brazil and Italy. The transaction is expected to be completed in the first quarter of 2009.
Whitford Worldwide manufactures a wide range of non-stick coatings for consumer applications of all types, including frying pans, coffee-plate warmers and waffle makers. Founded in 1969, the company also manufactures coatings for the chemical processing and petrochemical industries.
AkzoNobel's non-stick coatings business employs around 140 people; details about how many will be transferred are being discussed. Unions and employee representative bodies have been informed and, consultations procedures will begin shortly, where applicable.