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 Read

Self-cleaning sensors see the light

23 January 2015 Research

news image

Overcoming electrode fouling in biomedical and environmental detectors

Flowing rivers of mercury

7 January 2015 Feature

news image

Philip Ball investigates claims that the burial chamber of China’s first emperor contains rivers of shimmering mercury

Most Commented

Self-cleaning sensors see the light

23 January 2015 Research

news image

Overcoming electrode fouling in biomedical and environmental detectors

Undeniable: evolution and the science of creation

7 January 2015 Review

news image

Evolutionary arguments