AkzoNobel sells ICI Pakistan

Paints and coatings firm AkzoNobel has found a buyer for is 76% stake in ICI Pakistan, a subsidiary that makes polyester fibre, soda ash and a variety of chemicals for the Pakistani market. Yunus Brothers, a Pakistan group operating in the cement and textiles industries, will pay $150 million (£96 million) for the business, which AkzoNobel picked up in 2008 in the wake of the disintegration of UK chemicals giant ICI. In 2011, AkzoNobel ring-fenced the paints and coatings part of ICI Pakistan as AkzoNobel Pakistan, which will remain a subsidiary of the company.

Related Content

Business roundup

31 May 2011 Business

news image

Industry news, June 2011

AkzoNobel sells building adhesives unit for €260m

12 August 2013 Business

news image

Sika will take on two manufacturing sites and 550 employees

Most Commented

Antimony recovery lights up lamp waste recycling

2 October 2015 Research

news image

Green method produces fertiliser as a byproduct

Environmentally-friendly quantum dots make their mark

5 October 2015 Research

news image

Indium phosphide nanoparticles offer non-toxic alternative to cadium for richer, more colourful display screens