AkzoNobel expanding Middle East operations
(Thomson Reuters ONE) -
November 30, 2012
AkzoNobel has underlined its growth ambitions for the Middle East after signing
an expanded joint venture agreement with the Yusuf Bin Ahmed Kanoo group of
companies.
The new deal strengthens the existing joint venture between AkzoNobel and Kanoo,
which only covers the supply of the company's International Paint brand, along
with coil and packaging coatings. Under the terms of the expanded agreement,
AkzoNobel will offer products from across its Performance Coatings portfolio,
including professional woodcare, automotive refinish, marine, yacht, fire
protection, protective and powder coatings.
"We are very pleased to build on our long-standing relationship with the Kanoo
family by signing this agreement," said Leif Darner, AkzoNobel's Executive
Committee member responsible for Performance Coatings. "It will give us a firm
foothold in the Middle East and a solid platform from which to deliver on our
ambitious growth strategy in the region. We see many opportunities for our
products and services to supply the construction, oil and gas and transportation
sectors in the Middle East and this deal will ensure that we are better placed
to serve our customers."
Mishal Kanoo, Deputy Chairman for Kanoo in the UAE and Oman, added: "Our
relationship with AkzoNobel goes back over 30 years and we look forward to
supporting the company in its ambition to be a leading supplier of performance
coatings in both the UAE and Saudi Arabia."
AkzoNobel currently employs more than 200 people across its two main plants in
the Middle East. Both sites are planning increased investments to support the
enlarged business portfolio, with work on a new powder coatings facility in
Dubai having already started.
- - -
AkzoNobel is the largest global paints and coatings company and a major producer
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers for
our customers. Our portfolio includes well known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are
consistently ranked as one of the leaders in the area of sustainability. With
operations in more than 80 countries, our 55,000 people around the world are
committed to excellence and delivering Tomorrow's Answers Today(TM).
Not for publication - for more information
Corporate Media Relations, tel. +31 20 502 7833
Contact: Oskar Bosson
Corporate Investor Relations, tel. +31 20 502 7854
Contact: Jonathan Atack
Pdf file AkzoNobel press release:
http://hugin.info/130660/R/1661531/538351.pdf
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Source: Akzo Nobel NV via Thomson Reuters ONE
[HUG#1661531]
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Datum: 30.11.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 208431
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