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December 14, 2012
AkzoNobel to divest its North American Decorative Paints business
AkzoNobel (Amsterdam, The Netherlands; www.akzonobel.com) today announced the divestment of its North American Decorative Paints business to PPG Industries, Inc. (PPG; Pittsburgh, Pa.; www.ppg.com), for the value of $1.05 billion. In 2011, the North American Decorative Paints business had revenues of $1.5 billion, around 7 percent of AkzoNobel's total 2011 revenue.
AkzoNobel continues to have a strong presence in North America through its Performance Coatings and Specialty Chemicals businesses, with combined 2011 revenues of over $2.7 billion and close to 5,000 employees.
The company made the decision to divest Decorative Paints North America following a successful four-year turnaround. AkzoNobel has made the strategic choice to focus its Decorative Paints Business Area on key markets in Europe and its strong positions in high growth regions.