January 24, 2007

Akzo Nobel Polymer Chemicals > News > January 24, 2007

  PRESS RELEASE : Akzo Nobel gains full control of Russian joint venture


  Chicago, USA, January 24, 2007 — Akzo Nobel has gained full control of Russian ZAO Ankorit chemicals marketing joint venture after acquiring all of the remaining shares.

The transaction involved purchasing the 49 percent minority stake from joint venture partners Kazanjorgsynteze and Roshimneft.

ZAO Ankorit will continue to operate as normal, but will subsequently be integrated as a wholly-owned subsidiary into Akzo Nobel’s Polymer Chemicals business.

“We greatly appreciate the support that our partners have provided to the venture during the last 12 years,” said Bob Margevich, General Manager of Akzo Nobel Polymer Chemicals “Ankorit aims to continue providing the highest quality products, service and technical support to our customers.”
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