AMSTERDAM - AkzoNobel has signed an agreement with The Dow Chemical Co. to acquire its powder coatings activities. Financial details were not disclosed.
AkZoNobel said the deal “will bring key technological know-how and significant synergy potential” to its Powder Coatings business, as well as enhancing the company’s position in the U.S.
The powder coatings activities were purchased by Dow earlier this year as part of its acquisition of Rohm & Haas. This business achieves global sales of several hundred million dollars and employs approximately 700 people.
“This is a strategic acquisition which will enable us to further penetrate key industrial coatings segments,” said Leif Darner, the AkzoNobel Board member responsible for Performance Coatings. “By adding new powder technologies to our extensive portfolio we will be even better equipped to lead the way in meeting the increasing demand for innovative products with strong environmental profiles.”
Operating powder coatings factories in the U.S. Europe and China, Rohm & Haas developed several important new technologies – especially for the automotive and architectural segments – while the deal will also add MDF and thermoplastic capabilities to AkzoNobel’s existing expertise.
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