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AkzoNobel Agrees to Acquire BASF's Industrial Coatings Business for Euro 475 Million

Published on 2016-02-17. Author : SpecialChem

AkzoNobel has made an agreed offer to acquire BASF's Industrial Coatings business for €475 million.

AkzoNobel
Fig. 1: AkzoNobel Agrees to Acquire BASF's Industrial Coatings Business for Euro 475 Million

The transaction would include technologies, patents and trademarks, as well as securing supply to customers worldwide. Two manufacturing plants – one in the UK and one in South Africa – would also be transferred to AkzoNobel. The business generated revenue of about €300 million in 2015 and supplies products for a number of end uses, including coil, furniture foil and panel coatings, wind energy and general industry, and commercial transport.

"This proposed acquisition will strengthen our position in the important coil coatings market and fits well with our existing business, allowing us to offer essential solutions to our customers," said AkzoNobel CEO Ton Büchner. "We are continuing to deliver on our strategy to achieve our vision of leading market positions delivering leading performance."

The planned transaction is expected to be completed in the second half of 2016, subject to regular consultation with employee representatives and satisfaction of certain closing conditions, including receipt of required regulatory approval.

About BASF

BASF creates chemistry – and have been doing so for 150 years. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As one of the world’s leading chemical companies, it combines economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Its products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life.

About AkzoNobel


AkzoNobel is one of the leading global paints and coatings companies and a major producer of specialty chemicals. Calling on centuries of expertise, it supplies industries and consumers worldwide with innovative products and sustainable technologies designed to meet the growing demands of our fast-changing planet. Headquartered in Amsterdam, the Netherlands, it has approximately 46,000 people in around 80 countries, while its portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka.

Source: AkzoNobel
 

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