AkzoNobel Powder Coatings Acquires 100% of the South African JV With Freeworld Coatings
- Aug 6, 2012
AkzoNobel Powder Coatings strengthens its position in Africa by acquiring 100 percent of the Powder Coatings joint venture in South Africa. Financial details were not disclosed. After more than 40 years of a mutually beneficial relationship, Akzo Nobel Powder Coatings South Africa (Pty) Ltd and Freeworld Coatings (through its Plascon subsidiary) concluded participation in the original joint venture. The deal comes on the back of Freeworld Coatings' acquisition of Kansai, and underlines AkzoNobel's commitment to developing business in the African continent.
AB Ghosh, AkzoNobel Powder Coatings Managing Director commented: "This acquisition highlights our confidence in this important market, and South Africa is strategically well located for us to continue and to expand on the excellent work we are doing in Africa." The 100 percent acquisition will bring value to AkzoNobel customers by allowing the company to leverage scale across all of its businesses present in the region. This underlines the company's determination to accelerate growth and to build leadership positions across all global markets in line with AkzoNobel's Value and Values strategy.
AkzoNobel is the largest global paint and coatings company and a major producer of specialty chemicals. They supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for their customers. Their portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, they are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, their 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today™.
About AkzoNobel Powder Coatings
AkzoNobel Powder Coatings is the largest global manufacturer of powder coatings and a world leader in powder coatings technology, manufacturing at over 32 factories around the world. Powder coatings are used on everything from metal furniture and window frames, to radiators, pipes and cars and even wood and plastic. Powder coatings offer an attractive alternative to liquid coatings due to the fact that they are inherently sustainable - they contain no solvents and have application efficiency levels as high as 99 percent.
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