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AN acquires BASF's industrial coatings business

 Last Update: 2021-08-15
 Source: Internet
 Author: User

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Akzo Nobel (AN) and BASF announced on February 17 that AN agreed to spend 475 million euros (530.
7 million US dollars) to acquire BASF's industrial coatings business
.
The transaction will include technology, patents, trademarks and global customers, and is expected to be completed by the end of 2016
.

Two industrial coating production facilities owned by BASF, one located in Deeside, UK and the other located in Vanderbær Park, South Africa, will be handed over to Akzo Nobel
.
This business achieved operating income of approximately 300 million euros in 2015, mainly supplying products to end applications including coils, furniture foils and flat coatings, wind energy and general industrial and commercial transportation
.

BASF has a smaller scale in the industrial coatings business, while AN and PPG are industry giants
.
Markus Kamieth, the head of BASF's coatings business, said that the sale of this part of the business to Akzo Nobel will bring greater benefits
.
After the closing of the transaction, BASF intends to strengthen its core automotive original equipment manufacturing and automotive polishing coatings business and industry-leading decorative coatings business
.

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Akzo Nobel acquires BASF's industrial coatings business

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AN acquires BASF's industrial coatings business

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Akzo Nobel acquires BASF's industrial coatings business