AkzoNobel announces the sale of its biomaterials technology to Ashland Inc. The transaction is expected to be complete in the third quarter of this year.
The business is in its early phase of commercialization and the divestment of the biomaterials technology follows a strategic review of the business' fit within AkzoNobel's portfolio, according to the company. The transaction enables AkzoNobel to focus on its core technology platforms - specialty surfactants and polymers.
The biomaterials activities are focused on plant-based chemistry, which is used to develop products for various applications, such as high performance beauty technologies.
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