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AkzoNobel Looks to Acquire Aerospace Coatings Co.

Monday, July 22, 2019

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Global coatings company AkzoNobel (Amsterdam) announced last Thursday (July 18) in a media press release that it intends on acquiring French aerospace coatings manufacturer Mapaero.

Established in 1992, Mapaero specializes in advanced eco-friendly and water-based products.

AkzoNobel

Global coatings company AkzoNobel (Amsterdam) announced last Thursday (July 18) in a media press release that it intends on acquiring French aerospace coatings manufacturer Mapaero.

The company says that the intended acquisition would strengthen its global position in aerospace coatings, specifically in the structural and cabin coating sub-segments, and would also aid in contributing directly to the company’s 2020 guidance.

“The transaction will enable us to provide our customers with a much wider portfolio of innovative and sustainable products,” said AkzoNobel CEO Thierry Vanlancker.

“It also demonstrates our commitment to continue investing in strategic growth opportunities as we progress further with our Winning together: 15 by 20 strategy and will be accretive towards our 15% return on sales target.”

Eric Rumeau, President and CEO of Mapaero, added, “AkzoNobel’s offer is an exciting opportunity. Our activities are complementary to those of AkzoNobel and we are ideally placed to help further improve their existing portfolio and service levels. There’s clearly a strong match in the combination.”

Although financial terms of the deal have not been disclosed, AkzoNobel states that the offer is “subject to customary information and consultation procedures with Mapaero’s employee representative bodies and regulatory approvals.”

The transaction is slated to be completed during the second half of 2019.

   

Tagged categories: Acquisitions; Aerospace; AkzoNobel; Asia Pacific; Business management; Business matters; Business operations; Coatings; Coatings manufacturers; EMEA (Europe, Middle East and Africa); Latin America; Mapaero; North America; Program/Project Management; Z-Continents

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