AkzoNobel has yesterday completed its acquisition of the Dow Chemical Company's powder coatings activities. The deal was first announced in November last year.
Originally purchased by the Dow Chemical Company in 2009 as part of its acquisition of Rohm and Haas Company, the business brings key technological know-how and significant synergy potential to AkzoNobel's own Powder Coatings activities. It will also enhance the company's position in the US.
"We are delighted to be able to begin the integration of Dow Powder Coatings into AkzoNobel," said Rob Molenaar, Managing Director of AkzoNobel Powder Coatings. "We are looking forward to working with our new colleagues and exploring the exciting opportunities this integration offers while ultimately delivering world class products and service to our customers."
The acquired business achieves global sales of several hundred million dollars and employs around 700 people, operating factories in the US, Europe and China.
As well as complementing AkzoNobel's position in key strategic markets - especially the US, automotive and trade coaters - the deal also introduces MDF and thermoplastic capabilities to AkzoNobel's existing expertise.
Powder coatings technology has an impressive sustainability profile. For example, powder coatings contain no solvents and can have application efficiency levels as high as 99 percent.
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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 Paint 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 globe are committed to excellence and delivering Tomorrow's Answers Today(TM).
