AkzoNobel has finalised the $1.3bn sale of its National Starch business to Corn Products International. The transaction was announced on June 21, 2010.
"National Starch was taken over by AkzoNobel as part of its acquisition of ICI in 2008, but did not offer sufficient opportunity to create value within the company's transformed portfolio."
Corn Products International is one of the world's largest suppliers of food ingredients and industrial products derived from the wet milling and processing of starch-based materials and has its HQ in Westchester, Illinois, USA.
There will be further consolidation of the starch industry as European subsidies disappear.