AkzoNobel to acquire Dow powder coatings activities
(Thomson Reuters ONE) - AkzoNobel is to enhance its portfolio of sustainable technologiesafter signing an agreement with The Dow Chemical Company (Dow) toacquire its powder coatings activities. Financial details were notdisclosed.The deal will bring key technological know-how and significantsynergy potential to AkzoNobel's Powder Coatings business, as well asenhancing the company's position in the US.The powder coatings activities were purchased by Dow earlier thisyear as part of its acquisition of Rohm & Haas. This businessachieves global sales of several hundred million dollars and employsaround 700 people."This is a strategic acquisition which will enable us to furtherpenetrate key industrial coatings segments," explained Leif Darner,the AkzoNobel Board member responsible for Performance Coatings. "Byadding new powder technologies to our extensive portfolio we will beeven better equipped to lead the way in meeting the increasing demandfor innovative products with strong environmental profiles."Operating powder coatings factories in the US, Europe and China, Rohm& Haas developed several important new technologies - especially forthe automotive and architectural segments - while the deal will alsoadd MDF and thermoplastic capabilities to AkzoNobel's existingexpertise."Our intention is to move towards a more dedicated approach, wherebysites concentrate on specific technologies," added Rob Molenaar,Managing Director of AkzoNobel Powder Coatings. "These plannedmanufacturing enhancements and synergies will deliver improvedoperational efficiency and ultimately enable us to better serve ourcustomers worldwide."Powder coatings offer an attractive alternative to liquid coatingsdue to the fact that they are inherently sustainable because theycontain no solvents and have application efficiency levels as high as99 percent.The transaction is expected to close during the second quarter of2010, subject to customary closing conditions, including regulatoryapprovals. Consultations with employee representatives will be heldas and when appropriate.- - -AkzoNobel is proud to be one of the world's leading industrialcompanies. Based in Amsterdam, the Netherlands, we make and supply awide range of paints, coatings and specialty chemicals - 2008 revenuetotaled ?15.4 billion. In fact, we are the largest global paints andcoatings company. As a major producer of specialty chemicals wesupply industries worldwide with quality ingredients for life'sessentials. We think about the future, but act in the present. We'repassionate about introducing new ideas and developing sustainableanswers for our customers. That's why our 58,000 employees - who arebased in more than 80 countries - are committed to excellence anddelivering Tomorrow's Answers Today(TM).Not for publication - for more informationCorporate Media Relations, tel. +31 20 502 7833Corporate Investor Relations, tel. +31 20 502 7854Contact: Tim van derZanden Contacts:Huib Wurfbain and Ivar Smitshttp://hugin.info/130660/R/1354478/328464.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 12.11.2009 - 08:01 Uhr
Sprache: Deutsch
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