Akzo Nobel Sells Starch Business to American Corn Products

June 21, 2010
National Starch has 11 factories in eight countries.

Dutch-Swedish chemicals group Akzo Nobel announced the sale on June 21 of its National Starch business to American Corn Products for $1.3 billion (1.0 billion euros), saying it did not fit with its special chemicals and coatings activities.

The deal would be completed by the end of the third quarter of the year, it said.

National Starch had sales of 1.2 billion euros last year, employs 2,250 people, and has 11 factories in eight countries.

It was acquired by Akzo Nobel as part of British group ICI which the Dutch company bought in January 2008.

Akzo Nobel chief executive Hans Wijers said that the sale was part of his company's strategy of concentrating on advanced chemicals and industrial coatings.

Corn Products International is based at Westchester in Illinois.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!