AkzoNobel to Acquire Dow Powder Coatings Activities
Year:2009 ISSUE:33
Click:355    DateTime:Nov.25,2009
AkzoNobel to Acquire Dow Powder Coatings Activities     

AkzoNobel is to enhance its portfolio of sustainable technologies after signing an agreement with The Dow Chemical Company (Dow) to acquire its powder coatings activities.
    The deal will bring key technological know-how and significant synergy potential to AkzoNobel's Powder Coatings business, as well as enhancing the company's position in the US.
   The powder coatings activities were purchased by Dow earlier 2009 as part of its acquisition of Rohm & Haas. This business achieves global sales of several hundred million dollars and employs around 700 people.
   Operating powder coatings factories in the US, Europe and China, Rohm & Haas developed several important new technologies - especially for the automotive and architectural segments - while the deal will also add MDF and thermoplastic capabilities to AkzoNobel's existing expertise.
   The transaction is expected to close during the second quarter of 2010, subject to customary closing conditions, including regulatory approvals.