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EU approves AkzoNobel Powder Coatings acquisition

Published on 2010-04-28. Author : SpecialChem

AkzoNobel has received unconditional regulatory approval from the European Commission for its acquisition of the powder coatings activities of The Dow Chemical Company.

Announced last November, the deal will add technological know-how to AkzoNobel's Powder Coatings business and enhance the company's position in the US.

"Receiving EU approval is obviously good news," said Rob Molenaar, Managing Director of AkzoNobel Powder Coatings. "We can now finalize the transaction and start realizing all the exciting possibilities that combining these two fantastic businesses presents."

Around 700 employees will join AkzoNobel, while the company will also take over facilities in the US, Europe and China. The intention is to move towards a more dedicated approach, whereby sites concentrate on specific technologies. These planned manufacturing enhancements and synergies will deliver improved operational efficiency and ultimately enable the company to better serve its customers worldwide.

Source: AkzoNobel


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