Courtaulds Name can't be used for Fibres (1998)

Akzo Nobel has to completely eliminate the name Courtaulds from its operations because of a deal on the splitting of Courtaulds into two separate entities in 1990. The units and subsidiaries of Courtaulds PLC are mostly changing their name to Akzo Nobel following the takeover of the company by Akzo Nobel.

When the former Courtaulds group was divided into Courtaulds PLC, the fibers, chemicals and paints operation, and Courtaulds Textiles, the fabrics and clothing business, the two agreed that if one was taken over, the rights to the name would revert to the other.

"Since the demerger, there has been a lot of confusion about what is a long established name," says a Courtaulds Textiles spokesperson. "Now that we have exclusive rights to it, we can create a much stronger corporate image and identity."

Meanwhile, Akzo Nobel is starting limited production of the cellulosic fiber lyocell, sold under the brand name Tencel, at its new 42,000-ton-per-year plant at Grimsby, UK. The unit, built by Courtaulds, was originally scheduled to start up in late 1997.

21 September 1998  [Source: ICB Americas]