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References in periodicals archive ?
The 2,000-acre Wilton site - today home to some of the world's biggest names in chemical and other process industry manufacturing -was originally developed by ICI in the late 1940s.
Subsequently, AkzoNobel would dispose of its entire shareholding in the remainder of ICI Pakistan.
I am pleased that the sale has been concluded so rapidly, just three months after the ICI acquisition, and we are confident Henkel will further develop these strong businesses," says Akzo Nobel CEO Hans Wijers.
The acquisition ends 82 years of independence for ICI and it is unclear if the ICI brand will survive.
Akzo has been seen as a likely buyer of ICI since it sold its pharmaceuticals business Organon BioSciences to Schering-Plough in March to concentrate on its core paints and speciality chemicals operations.
But the deal has yet to be cleared by competition authorities, as well as major shareholders said to be keen that the Dutch company does not overpay for ICI, which has around 3,500 staff in the UK and 26,000 worldwide.
Akzo had originally been given until 5pm yesterday to put forward a bid after first approaching ICI in June.
ICI agreed to the move after Akzo, the maker of Crown paints, tabled a revised 670p a share offer, valuing ICI at pounds 8 billion.
Yesterday, ICI moved one step closer to transforming itself from a low-margin bulk chemicals group into a specialist scents-to-paints business.
All offer moisture resistance while still degrading fully, ICI reports.
ICI depends on input from distributors who know the market.
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