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AkzoNobel Adds, Nippon Paint Subtracts

Monday, November 4, 2013

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Global coating makers AkzoNobel and Nippon Paint are resizing their portfolios, with AkzoNobel expanding its presence in the Middle East and Nippon Paint divesting part of its U.S. business.

AkzoNobel has announced that it acquired a 50 percent stake and management control of Sadolin Paints Oman SAOC, which employs about 150 people.

Japan-based Nippon Paint, meanwhile, said it would sell its U.S. powder coatings business, Seibert Powder Coatings.

AkzoNobel Enters JV

AkzoNobel announced Thursday (Oct. 31) that it had signed a joint venture agreement with Omar Zawawi Establishment LLC, the promoter and shareholder of Sadolin Paints, to manufacture and sell decorative paints and performance coatings in the country of Oman.

Financial details were not disclosed.

AkzoNobel Middle East
AkzoNobel

AkzoNobel announced plans to expand its presence in the Middle East after acquiring a 50 percent in Sadolin Paints and signing a joint venture agreement with the company's promoter and shareholder.

"This agreement forms part of AkzoNobel's growth plans for the Middle East," Conrad Keijzer, the Executive Committee member responsible for Performance Coatings, said in a press release.

"Bringing our decorative paints and performance coatings expertise under one roof in Oman will provide a strong platform to support our customers in this increasingly important market."

Peter Tomlinson, Managing Director of AkzoNobel in the Middle East, added: "With governments investing more into construction, local production is becoming increasingly important. Our paints and coatings activities in Oman will now be well placed to effectively supply customers in the construction, transportation and oil and gas sectors."

Dr. Omar Zawawi, chairman of the Omzest Group, said the group would remain a significant shareholder and would appoint three members to the joint venture's Board of Management.

"We are delighted with this agreement, which enhances Sadolin Paints' profile in the market and provides access to leading-edge technology," Zawawi said. "In addition, it will open up new markets which could not have been developed by Sadolin as an independent company."

AkzoNobel says it will also make investments to support the enlarged business portfolio across the Middle East region while leveraging Sadolin's existing reputation and network.

Nippon Paint Sells Off Powder

Nippon Paint (USA) Inc. (NP-USA), a subsidiary of Nippon Paint Co. Ltd. in Osaka, Japan, announced on Oct. 18 that it had reached agreement with Protech Chemicals Ltd. to sell the powder coatings business of NPA Coatings Inc., also known as Seibert Powder Coatings.

Protech Powder
www.protechpowder.com

Japan-based Nippon Paint's U.S. company will sell its powder coatings business to Protech Chemicals.

Terms of the sale were not disclosed; the deal is expected to be finalized by Nov. 15, according to NP-USA.

Protech develops, produces and markets thermoset and thermoplastic powder coatings. The company plans to continue to manufacture powder paint at the Cleveland, OH, facility.

"The sale of Seibert Powder Coatings is consistent with Nippon Paint's management strategy, which seeks to focus on growing its core business," said Hidefumi Morita, president of NP-USA and CEO of NPA Coatings.

"We are very pleased that we are able to sell our powder paint segment to Protech, a company sincerely committed to continuing to provide quality powder paint to the market."

   

Tagged categories: Acquisitions; AkzoNobel; Mergers; Nippon Paint

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