Akzo Nobel NV (AMS:AKZA) AkzoNobel To Divest Non-stick Coatings Activities

Akzo Nobel NV (AMS:AKZA) AkzoNobel has agreed to divest its non-stick coatings business to privately-owned, US-based company Whitford Worldwide. Financial details have not been disclosed. The deal involves AkzoNobel's global cookware and bakeware activities, which operate out of five sites in the US, China, India, Brazil and Italy. The transaction is expected to be completed in the first quarter of 2009.

"Although it is a solid business, our non-stick coatings operation does not have the scale for it to become a true market leader globally," explained Leif Darner, AkzoNobel's Board member responsible for Performance Coatings. "In the hands of new owners, however, it offers good growth opportunities and we are convinced our employees are joining an ambitious and successful company run by capable professionals who we trust to take the business forward."

Added Whitford Worldwide's CEO Dave Willis: "Acquiring AkzoNobel's non-stick activities gives us access to cutting-edge technology and expertise which will enable us to significantly expand our portfolio. It's an excellent business which fits in perfectly with our own ambitions and growth plans." Whitford Worldwide manufactures a wide range of non-stick coatings for consumer applications of all types, including frying pans, coffee-plate warmers and waffle makers. Founded in 1969, the company also manufactures coatings for the chemical processing and petrochemical industries. AkzoNobel's non-stick coatings business employs around 140 people and details about how many will be transferred are being discussed. Unions and employee representative bodies have been informed and consultations procedures will begin shortly, where applicable. Regulatory approval will also be sought as and where appropriate.

---- Note to editors AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - pro forma 2007 revenue totaled €14.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today(TM).

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Akzo Nobel nv Corporate Media Relations, tel. Corporate Investor Relations, tel. +31 20 502 7833 +31 20 502 7856 Contact: Heleen van de Lustgraaf Contact: Huib Wurfbain, Ivar Smits

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