Akzo Nobel divests 3rd chemicals unit

Arnhem, Netherlands-based drug and chemicals group Akzo Nobel has signed an agreement to divest its polymerization catalysts and components business in the USA to Basell Polyolefins, the world's largest producer of polypropylene and polyolefin products.

This is the third chemicals divestment announced by the firm in 2006 and is part of its $578.0 million realignment program. All remaining divestments are expected to be completed by the middle of the year, the company noted.