|
|
Article: AKZO PLASTIC SELLS OFF COURTAULDS OPERATIONS.
- Article from:
- Plastics News
- Article date:
- December 14, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Just months after acquiring Courtaulds plc, Akzo Nobel NV has sold the bulk of Courtaulds' global tube and packaging operations in a management buyout for 82 million ($135 million).
Akzo Plastic Packaging and its Laminate and Aluminium Tubes business formed a major part of the former Courtaulds Polymer Products division, with annual sales of about 221 million pounds ($362 million).
Akzo of Arnhem, Netherlands, said it also plans to sell a remaining British rigid-plastic-container plant, as well as its U.S.-based Performance Films. Those units were not part of the deal.
The Polymer Products businesses are noncore for Akzo, which is concentrating ...