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AkzoNobel Acquires Thai Powder Coatings Firm

Wednesday, November 29, 2017

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Coatings giant AkzoNobel (Amsterdam) announced Monday (Nov. 27) that it has agreed to acquire V.Powdertech Co. Ltd., a manufacturer of powder coatings for industrial and consumer products in Thailand.

The transaction, expected to close in the coming weeks, will include the company’s factory in Samutsakhon, Thailand, as well as all technologies, patents and trademarks, according to AkzoNobel. V.Powdertech’s approximately 250 employees will join AkzoNobel.

V.Powdertech facility
Courtesy of AkzoNobel

AkzoNobel will acquire Thai powder coatings manufacturer V.Powdertech in a deal expected to close in the coming weeks.

“We are pleased to welcome our new colleagues to AkzoNobel,” said Ruud Joosten, AkzoNobel’s COO of Paints and Coatings. “This business is an excellent strategic fit and will further strengthen our leading market positions in powder coatings in South East Asia. With V. Powdertech’s strong brand, we will be able to offer a broader range of products and services to more customers and target new growth segments.”

Financial terms of the deal were not disclosed.

Building a Presence

In January, AkzoNobel opened a new $11.7 million powder coatings facility in Chengdu, China, increasing its footprint in Asia. Last month, the company’s Specialty Chemicals business announced an expansion to its Ningo, China, organic peroxides facility.

According to AkzoNobel’s current plan, the Specialty Chemicals business will be spun off as a separate entity, leaving the company to focus on paints and coatings. That plan was hatched in the midst of merger attempts by American rival PPG (Pittsburgh) this spring. AkzoNobel denied PPG’s attempts at negotiation.

Last month, it was revealed that AkzoNobel was in talks regarding a merger with Philadelphia-based Axalta Coating Systems, but those talks were officially called off last week.

   

Tagged categories: Acquisitions; AkzoNobel; Coatings manufacturers

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