ARNHEM, the Netherlands - Akzo Nobel has received an offer from Hexion Specialty Chemicals for its Ink and Adhesive Resins business for €88 million free of cash and debt. The offer involves all assets and all current employees of the business. If completed, the deal would represent the first major divestment to be completed following the company's strategic realignment of its Chemicals portfolio, which was announced earlier.

The business, which had 2004 sales of €166 million, employs around 560 people and has its global headquarters in Maastricht, the Netherlands, along with production sites in seven countries.