AkzoNobel Completes Sale of Primary Amides Business
AMSTERDAM, The Netherlands - AkzoNobel has completed the sale of its primary amides chemicals business to PMC Group effective December 31, 2013.
Under the terms of the agreement, a manufacturing facility in Kyungju, South Korea, and all 37 employees will transfer to PMC Group, along with the erucamide, oleamide and other primary and secondary amides sold under the Armoslip® trade names.
The sale follows a review of the business' fit within AkzoNobel's Functional Chemicals portfolio, where it operated as a standalone activity.
Primary amides products are used primarily in the polymer industry to create plastics bags and plastic films for packaging.
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