AkzoNobel Completes Acquisition
of BASF’s Industrial Coatings Business
AkzoNobel has finalized the acqui- sition of BASF’s global Industrial Coatings business, which supplies
a range of products for industries including construction, domestic appliances,
wind energy and commercial transport,
strengthening its position as the global
number one supplier in coil coatings.
The transaction includes relevant
technologies, patents and trademarks,
as well as two manufacturing plants in
the United Kingdom and South Africa.
Approximately 400 employees from
BASF’s Industrial Coatings business join
AkzoNobel, bringing expertise to innovate and serve an expanded customer
base worldwide.
Completing this transaction also positions AkzoNobel as a full service coatings
provider for the protection and maintenance of wind turbines, providing essential protection to wind power stations
around the globe.
The transaction is based on a deal
value of €475 million, with BASF’s
Industrial Coatings business generating
revenue close to €300 million in 2015.
During the next two years, a portion
of the BASF production volume will be
transferred to existing nearby AkzoNobel
manufacturing facilities. This will bring
synergies and additional production efficiencies. The full profitability of the
acquisition will be realized by the end
of 2018, in line with the stated financial
guidance from AkzoNobel for its existing
Performance Coatings business.
“We are pleased to welcome our
new colleagues to AkzoNobel,” said
Conrad Keijzer, the company’s Executive
Committee member responsible for
Performance Coatings.
“This business is an excellent strategic
fit and will strengthen our leading market
positions, particularly in the coil, protec-
tive and wood coatings sectors in Europe.
We will be able to offer new products
and maintenance solutions - such as pro-
tective coatings for wind turbine blades
- and service a broader customer base to
drive growth.”
This transaction is fully aligned with
the AkzoNobel strategy of pursuing value
creating bolt-on acquisitions.
Sika Acquires RMax
Operating
Sika has agreed to acquire Rmax
Operating, LLC, a Dallas, Texas-based
market leader in the production of
polyiso insulation products for com-
plete Building Envelope solutions (roof-
ing and wall systems). The acquisition
brings technology and know-how that
will accelerate Sika’s growth and drive
innovation in the North American mar-
ket via the strong synergies between the
companies. Rmax generated sales in
excess of USD 75 million in 2016. The
transaction is subject to clearance by
anti-trust authorities.CW
Index to Companies
This index gives the starting page for a department or feature with a significant reference to a manufacturer of paint, coatings, adhesives and sealants
Subsidiaries are indexed under their own names.
AkzoNobel ................................................................................................. 8, 24
Axalta Coating Systems .................................................................................. 10
BASF Coatings ............................................................................................ 8, 18
Chemline......................................................................................................... 18
Dunn Edwards ................................................................................................ 30
Flowcrete ........................................................................................................ 26
H. B. Fuller...................................................................................................... 10
Hempel ........................................................................................................... 24
Henkel ............................................................................................................ 10
LiquiGlide ....................................................................................................... 18
Looser ............................................................................................................. 10
Tikkurila ......................................................................................................... 24
Pintuco............................................................................................................ 22
PPG...................................................................................................... 10, 30, 58
Sherwin-Williams ...................................................................................... 10, 30
Sika ................................................................................................................... 8
