AkzoNobel will enhance its portfolio of sustainable technologies after signing an agreement with The Dow Chemical Company (Dow) to acquire its powder coatings activities. Financial details were not disclosed, but the deal will bring key technological know-how and significant synergy potential to AkzoNobel’s Powder Coatings business. This business achieves global sales of several hundred million dollars and employs around 700 people.
Explained Leif Darner, 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.”
The deal will also add MDF and thermoplastic capabilities to AkzoNobel’s existing expertise. (SB)
