BASF intends to sell its global industrial coatings business to AkzoNobel
General agreement has been reached
BASF and AkzoNobel have reached a general agreement on the sale of the industrial coatings business of BASF’s coatings division to AkzoNobel for €475 million. The transaction would include technologies, patents and trademarks, as well as the transfer of two dedicated production sites, one in Deeside, England, and one in Vanderbijlpark, South Africa. BASF and AkzoNobel intend to finalize and sign detailed transaction documents in due course. The planned transaction is subject to the required consultation with employee representatives and certain regulatory approvals. BASF and AkzoNobel intend to complete the transaction by the end of 2016.
BASF’s industrial coatings business generated sales of approximately €300 million in 2015 and supplies products for a number of end uses, including coil, furniture foil and panel coatings, as well as coatings for wind energy plants, general industry and commercial transport. “We have successfully developed our global industrial coatings business over the last years with a clear focus on attractive market segments. To further develop the business, we see positive growth prospects under the umbrella of AkzoNobel, which is a leading global player in industrial coatings,” said Markus Kamieth, President of BASF’s Coatings division. With this transaction, BASF will further strengthen its focus on its core automotive OEM and automotive refinish coatings businesses as well as the leading decorative paints business with its brand Suvinil® in Brazil.
Other news from the department business & finance
These products might interest you
Dursan by SilcoTek
Innovative coating revolutionizes LC analysis
Stainless steel components with the performance of PEEK - inert, robust and cost-effective
OCA 200 by DataPhysics
Using contact angle meter to comprehensively characterise wetting behaviour, solids, and liquids
With its intuitive software and as a modular system, the OCA 200 answers to all customers’ needs
Tailor-made products for specific applications by IPC Process Center
Granulates and pellets - we develop and manufacture the perfect solution for you
Agglomeration of powders, pelletising of powders and fluids, coating with melts and polymers
