Offshore Communications
AccountGuest Edition My Account My Che.com Log In
Article
Email Email Print Print
Clip Clip & File

Only on Che.com :: Latest News

May 2, 2011

AkzoNobel plans to restructure ICI Pakistan

Dorothy Lozowski

Akzo Nobel N.V. (AkzoNobel; Amsterdam, the Netherlands; www.akzonobel.com) has announced its intention to seek agreement from the Board and shareholders of ICI Pakistan Ltd. (ICI Pakistan) to separate the organization's paints and chemicals businesses. Under the terms of the proposal, AkzoNobel would retain direct majority control of the paints business by separating it into a new legal entity (AkzoNobel Pakistan Ltd.) through a de-merger process approved by the Pakistani courts. Subsequently, AkzoNobel would dispose of its entire shareholding in the remainder of ICI Pakistan.

The entire ICI Pakistan business has been a subsidiary of AkzoNobel since 2008, when the company acquired Imperial Chemical Industries PLC. It is listed on the Karachi, Lahore and Islamabad Stock Exchanges, with AkzoNobel currently holding 75.8% of the total shares. Focusing primarily on the Pakistan market, ICI Pakistan's main businesses are polyester fiber, soda ash, life sciences, chemicals and decorative paints. In 2010, ICI Pakistan's revenue amounted to €305 million.

Add a Comment

Name:
Email:
Comments:

Please enter the letters or numbers you see in the image. (refresh)
 
 

Related Stories

LinkedIn Groups

Our LinkedIn group is now over 21,000 members strong!

  1. Join other CPI professionals from all over the globe and share best practices, expertise, concerns and more.
  2. Provide feedback to Chemical Engineering Editors


Current members represent Worley Parsons, DuPont, SABIC, Fluor, Air Products, LyondellBasell, Nalco, Dow Chemical, Dow Corning, BASF, Jacobs Engineering, ExxonMobil, Shell, Chevron and more.

Join Now



We also offer the following subgroup for more targeted discussions:

Tools
Search the Buyers' Guide

Plant Cost Index

Facts at Your Fingertips (archive)

Ask the Experts

Back Issues
X
To access this area, please log in or create an account.
Username:
Password:
Forgot your password?
Request it now.
Processing...