Connect with us

Collision

AkzoNobel Confirms Offer To Acquire BASF’s Industrial Coatings Business

The transaction would include technologies, patents and trademarks, as well as securing supply to customers worldwide. Two manufacturing plants – one in the U.K. and one in South Africa – also will be transferred to AkzoNobel.

Advertisement

BASF Refinish - LogoAkzoNobel announced it has made an offer to acquire BASF’s Industrial Coatings business for €475 million ($528 million USD).

Advertisement
Click Here to Read More
Advertisement

The transaction would include technologies, patents and trademarks, as well as securing supply to customers worldwide. Two manufacturing plants – one in the U.K. and one in South Africa – also will be transferred to AkzoNobel. The business generated revenue of about €300 million ($334 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 complete 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.

Advertisement

Loading Post...

Loading Post...

Loading Post...

Advertisement

POPULAR POSTS

Association

I-CAR Announces Updated Governance Structure

Association

Women’s Industry Network Adds 7 New Members To Board

Collision

PPG Completes Acquisition Of Automotive Coatings Manufacturer Hemmelrath

Collision

CARSTAR EDGE Performance Group Holds National Meeting

Connect