AkzoNobel completes BASF Industrial Coatings deal
AkzoNobel has completed the purchase of BASF’s Industrial Coatings business.
Apart from adding two production sites in the UK and South Africa to its portfolio, AkzoNobel says the merger will also add valuable technology to help it grow its Performance Coatings business.
Meanwhile, it says the new skills coming into its business adds expertise as well as innovation and growth potential in different areas such as coil coatings, foil and panel coatings for furniture, protective coatings for wind turbines and coatings for general industry and commercial transport.
The company says this acquisition demonstrates the next phase in its strategy, which is built upon operational excellence and continuous improvement, and couples organic growth with strategic bolt-on acquisitions like this one.
The full transition period will be about six months and include a thorough onboarding of new colleagues into AkzoNobel’s performance coatings SMU structure.