AkzoNobel To Acquire BASF’s Industrial Coatings
AkzoNobel has made an agreed offer to acquire BASF’s Industrial Coatings business. The transaction would include technologies, patents and trademarks, as well as securing supply to customers worldwide.
Two manufacturing plants one in the UK and one in South Africa would also be transferred to AkzoNobel. The business supplies products for a number of end uses, including coil, furniture foil and panel coatings, wind energy and general industry and commercial transport.
The planned transaction is expected to be completed in the second half of 2016, subject to regular consultation with employee representatives and satisfaction of certain closing conditions, including receipt of required regulatory approval.
For more information, visit www.coatingsworld.com.