AkzoNobel to snap up BASF coatings business
17 Feb 2016
AkzoNobel, the Dutch specialty chemicals company, has announced plans to buy BASF’s industrial coatings business for €475m (£370m).
BASF’s coating business supplies coatings for coil, furniture foil, panel coatings, wind energy and commercial transport, and the deal will include its associated technologies, patents, trademarks and supply networks.
Two factories will also be transferred - one in the UK and another in South Africa – to AkzoNobel, which owns the Dulux paint brand.
This proposed acquisition will strengthen our position in the important coil coatings market and fits well with our existing business, allowing us to offer essential solutions to our customers
AkzoNobel CEO Ton Büchner
AkzoNobel said the BASF industrial coatings business generated revenue of about €300 million in 2015.
"This proposed acquisition will strengthen our position in the important coil coatings market and fits well with our existing business, allowing us to offer essential solutions to our customers," said AkzoNobel chief executive Ton Büchner.
The transaction is expected to complete in the second half of 2016.
