Akzo Wins Stauffer -- Quickly

Recently, US-based Stauffer Chemical was acquired for $1.69 billion from Dutch- and UK-based Unilever by Imperial Chemical Industries (ICI) of the UK. Now, Dutch-based Akzo has reached agreement with ICI to purchase Stauffer's specialty chemicals business for $625 million. The Akzo-ICI action w...

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Bibliographic Details
Published in:Chemical week 1987-07, Vol.141 (1), p.10-10
Main Authors: Short, Herbert C, Slis, Nel, Gomez, Iris, Mikelberg, Felice
Format: Magazinearticle
Language:English
Subjects:
Acquisitions & mergers
Case studies
Chemical industry
Chemicals
Specialty products
Strategic planning
Online Access:Get full text
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Summary:Recently, US-based Stauffer Chemical was acquired for $1.69 billion from Dutch- and UK-based Unilever by Imperial Chemical Industries (ICI) of the UK. Now, Dutch-based Akzo has reached agreement with ICI to purchase Stauffer's specialty chemicals business for $625 million. The Akzo-ICI action will involve high-performance hydraulic fluids and lubricants, flame retardants, petrochemical catalysts, specialty sulfur products carbon disulfide, and other related products. Stauffer's US operations are spread over 7 locations. In 1986, Stauffer's sales in specialty chemicals reached $325 million, with a pretax profit of $40 million. Akzo's sales in 1986 were $7.8 billion, with pretax profits of $733 million. Akzo's quick action to buy Stauffer's specialty chemicals operations was no surprise, as the company was part of a consortium that lost in the bidding against ICI for the original purchase. The acquisition, Akzo's largest to date, would fit perfectly with the company's corporate strategy.
ISSN:0009-272X
2163-3126