Akzo Nobel to buy BASF coatings
The transaction would include technologies, patents and trademarks, as well as securing supply to customers worldwide.
#masking #pollutioncontrol #curing
AkzoNobel has made an agreed offer to acquire BASF’s Industrial Coatings business for $530 million, or €475 million. The transaction would include technologies, patents and trademarks, as well as securing supply to customers worldwide.
Featured Content
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.
RELATED CONTENT
-
Curing Oven Basics
Simply heating up the substrate does not cure the coating. There are many variables to consider when choosing the best cure oven for your application...
-
Zinc Phosphate: Questions and Answers
Our experts share specific questions about zinc phosphate and pretreatment
-
Paint Application Methods
An overview of spraying, dipping, flow coating, and everything in between.