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AkzoNobel Acquires Minority Shareholding in Coil Coatings JV

Published on 2008-12-11. Author : SpecialChem

AkzoNobel has acquired Nippon Paint's 25 percent minority shareholding in their joint venture company in Europe, Akzo Nobel Nippon Paint Holding B.V.

The former 75/25 joint venture - which was first established in 1993 between Courtaulds and Nippon Paint - involved the manufacture and sale of coil coatings in the greater European region.

The transaction will take AkzoNobel's shareholding in the company to 100 percent and will allow the merger of the company and its subsidiaries into the AkzoNobel group. Financial details were not disclosed.

About AkzoNobel:

AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - pro forma 2007 revenue totaled €14.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today™.

Source: AkzoNobel


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