International. AkzoNobel said in an official statement that it has sold its construction adhesives business to Sika for a value of 260 million euros.
This line of business generated revenues of 185 million euros in 2012. Now, the transaction, which is expected to be completed in the fourth quarter of this year, subject to regular consultation with workers' representatives, includes approximately 550 employees from the line of business, as well as its two manufacturing facilities in Rosendahl (Germany) and Damville (France); its products and brands are transferred to Sika in Switzerland.
AkzoNobel assures that this sale follows a strategic review of business adjustment within its portfolio. Construction adhesives are an independent line within the Decorative Paints business area, primarily geared towards the professional market in Northwest Europe, with a portfolio of brands and products including floor and wall leveling compounds, floor adhesives, tile installation, sealants and floor finishes.
