AkzoNobel Acquires BASF Coatings Unit
Dec. 21, 2016—AkzoNobel recently announced that it will acquire the industrial coatings unit of BASF. The deal is for $527 million.
The unit includes BASF’s commercial transport sector. AkzoNobel said the pact includes relevant technologies, patents and trademarks, in addition to two manufacturing plants in the United Kingdom and South Africa.
Conrad Keijzer, AkzoNobel’s executive committee member responsible for performance coatings, said the deal will “strengthen our leading market positions, particularly in the coil, protective and wood coatings sectors in Europe. We will be able to offer new products and maintenance solutions-- such as protective coatings for wind turbine blades―and service a broader customer base to drive growth.”
Nearly 400 employees from BASF’s industrial coatings business will join AkzoNobel.