AkzoNobel acquiring Australian specialty starch activities
(Thomson Reuters ONE) - AkzoNobel's National Starch business is to boost its supplycapability in the Asia Pacific region after agreeing to acquirePenford Australia Ltd's specialty grain wet milling and manufacturingfacility in Lane Cove. Financial details were not disclosed.The deal, which also includes certain other intellectual property andassets of Penford's Australian specialty starch business, will expandNational Starch's regional capability to supply specialty cornstarches into food applications in the Asia Pacific region."This is a strategic investment in National Starch's global portfoliowhich further strengthens the business' ability to support customersin the growing Asia Pacific region," said Rob Frohn, the AkzoNobelBoard member responsible for Specialty Chemicals.Added National Starch Managing Director Jim Zallie: "This addition toour global supply network will shorten our supply lines of specialtystarches into Australia and Asia, improve our competitive advantageand enhance our ability to strengthen our leadership position in theregion."The acquisition will add two new product lines to National Starch'salready extensive portfolio of specialty food starches. These includePenford's "clean label" starch product technology - to complementNational Starch's world-leading NOVATION functional native foodstarches - and additional resistant starch products, which willexpand the business' product range for nutrition and healthapplications.Final closure of the deal is expected before the end of the year.- - -AkzoNobel is proud to be one of the world's leading industrialcompanies. Based in Amsterdam, the Netherlands, we make and supply awide range of paints, coatings and specialty chemicals - 2008 revenuetotaled ?15.4 billion. In fact, we are the largest global paints andcoatings company. As a major producer of specialty chemicals wesupply industries worldwide with quality ingredients for life'sessentials. We think about the future, but act in the present. We'repassionate about introducing new ideas and developing sustainableanswers for our customers. That's why our 58,000 employees - who arebased in more than 80 countries - are committed to excellence anddelivering Tomorrow's Answers Today(TM).Not for publication - for more informationCorporate Media Relations, tel. +31 20 502 7833Corporate Investor Relations, tel. +31 20 502 7854Contact: OskarBossonContacts: Huib Wurfbain and Ivar Smitshttp://hugin.info/130660/R/1356644/329679.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 23.11.2009 - 15:00 Uhr
Sprache: Deutsch
News-ID 8744
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