AkzoNobel CompletesSale of Primary Amides to PMC
At the end of December 2013, AkzoNobel sold its Primary Amides business and a manufacturing facility at Kyungju, South Korea, for an undisclosed sum to PMC Group, based at Mount Laurel, New Jersey, U.S.A.
The activities, employing 37 people - all of which will transfer to PMC - encompass euramide, oleamide and other primary and secondary amides sold under the Armoslip trademark. The products are used in production of plastic bags and plastic packaging films.
Dutch-based AkzoNobel said the business no longer was a good fit with its Functional Chemicals portfolio, where it was operated as a standalone activity. "Our focus is on extending our leading market position in organic peroxide and metal alkyls, as evidenced by our recent expansion investments in China, the U.S. and Mexico," said Werner Furhmann, executive committee member for the specialty chemicals business.
In February 2013, PMC acquired the global methyl tin stabilizers and solid lubricants business of compatriot Dow Chemical and in October 2012 the global organotin and organophosphine-based polymer stabilizers, catalysts and fine chemicals business of France's Arkema.
