Solutia to take control of Flexsys - footwearbiz: Leading site for glo

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Solutia to take control of Flexsys

28/02/2007
 
US chemical solutions company Solutia Inc. has reached a definitive agreement to purchase Akzo Nobel N.V.'s stake in Flexsys, the 50/50 rubber chemicals joint venture between the two companies. A letter of agreement has been signed committing the parties to execute the agreement upon completion of consultation with Dutch employee works council representatives. The agreement is subject to various closing conditions.

With 2005 sales of approximately $600 million, Flexsys employs about 600 people worldwide. Headquartered in Brussels, its products are used in the the manufacture of tyres and rubber products such as footwear, belts, hoses, and seals.


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