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PrintAkzo Nobel is not interested in acquiring German titanium dioxide producer Sachtleben from owners Rockwood Holdings and Finnish partner Kemira Oyj, Akzo Nobel Chief Executive Ton Buechner said in a newspaper interview.
"It is not our overall strategy to integrate vertically," which would be the case with Sachtleben, Buechner told Financial Times Deutschland. The newspaper made the interview public on Thursday ahead of publication on Friday.
Sources told Reuters in March that Rockwood and Kemira were preparing to float Sachtleben, but an outright sale to a rival or financial investor remained an option.
Titanium dioxide pigments are used to create the whiteness in paints and car coatings and as sunblock in skin cream.
Sachtleben, 61 percent-owned by Rockwood with Kemira holding the rest, has about 700 million euros ($905 million) in annual sales, according to its Internet site.
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