AkzoNobel expands its US automotive repair distribution network
(Thomson Reuters ONE) -
May 17, 2011
AkzoNobel's Automotive and Aerospace Coatings business is growing its automotive
repair distribution network in the US through an expanded relationship with LKQ
Corporation. The deal will involve the divestment of approximately 40 company
owned stores to LKQ.
The transaction impacts all AkzoNobel branch operations in the US that are
involved with automotive repair direct sales. The agreement between the two
companies will see AkzoNobel's Sikkens, Lesonal and U-Tech brands distributed by
LKQ. Financial details were not disclosed.
"As part of AkzoNobel's new sustainable growth strategy we want to focus on
growing our market share in mature markets and this deal will enable us to do
that," explained Leif Darner, AkzoNobel's Executive Committee member responsible
for Performance Coatings. "By partnering with LKQ, we will be able to offer our
products to a wider set of customers and strengthen our leadership position in
one of our most important markets."
With nearly 300 facilities, LKQ is the largest nationwide provider of
aftermarket recycled and refurbished collision and mechanical replacement
products for the automotive and truck market. Their diverse network as a partner
to thousands of collision repair centers has made them one of the leading
vehicle refinish paint distributors in the US.
"LKQ Corporation is one of the most recognized and respected names in the
automotive industry and we are proud to have them as part of our growing North
American network of distribution partners," added Jim Rees, Managing Director of
AkzoNobel's Automotive and Aerospace Coatings business. "By moving towards
independent distribution in North America, we can focus on strengthening our
leadership in providing exceptional products, technology and service to the
automotive repair industry."
- - -
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 a
Global Fortune 500 company and are consistently ranked as one of the leaders on
the Dow Jones Sustainability Indexes. 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).
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Source: Akzo Nobel NV via Thomson Reuters ONE
[HUG#1516387]
Unternehmensinformation / Kurzprofil:
Datum: 17.05.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 54726
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