Akzo Nobel announced the introduction of a waterborne exterior wood coating billed as a "pioneering" advance in coatings technology due to a solids content of approximately 65% and "nearly zero" VOC content.
The investment firm Apollo Management L.P. announced an agreement to acquire Borden Chemical Inc., a supplier of thermoset and other high-performance resins, adhesives and specialty chemicals, for approximately $1.2 billion including the assumption of outstanding debt.
Akzo Nobel Car Refinishes announced plans for a "major restructuring" to be carried out over the next two years, a program that the company said will result in the reduction of approximately 600 employment positions, or 10% of the business's global work force.
Coatings supplied by Akzo Nobel's International Protective Coatings business are being applied to the roof of the historic Olympic stadium in Athens as part of the facility's modernization in preparation for this year's Olympic games.
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