AkzoNobel to Divest Building Adhesives
Business to Sika AG for €260 million
AkzoNobel has received a binding offer
for the purchase of its Building Adhesives
business by Sika AG for €260 million.
Building Adhesives generated annual revenues of €185 million in 2012.
The transaction, which is expected to
be completed in the fourth quarter of this
year subject to regular consultation with
employee representatives, will see all of
Building Adhesives’ approximately 550
employees as well as its two manufacturing facilities in Rosendahl (Germany) and
Damville (France) and its products and
brands transfer to Swiss-based Sika AG.
The intended sale of Building
Adhesives follows a strategic review of
the business’ fit within AkzoNobel’s portfolio. Building Adhesives is a standalone
business within AkzoNobel’s Decorative
Paints business area, primarily serving
the professional market in North Western
Europe with a portfolio of brands and
products including floor and wall leveling
compounds, floor adhesives, tile setting,
sealants and floor finishes. Its respected
brands include Schönox, Casco, Cégécol,
Synteko and EriKeeper. AkzoNobel’s
Wood Finishes and Adhesives business
(which also operates under the Casco
brand) is not the subject of this offer.
“We want to focus our Decorative
Paints business at AkzoNobel on the strong
strategic paint positions we have in Europe
and the growth markets of Asia and South
America,” commented AkzoNobel CEO
Ton Büchner. “The intended sale of Building
Adhesives is in line with this strategy. In
Sika, with its portfolio of businesses in this
industry, we are pleased to have found a
good future home for this business.”
Jan Jenisch, CEO of Sika: “Sika is
looking forward to welcoming the suc-
cessful team from the Building Adhesives
business of AkzoNobel. The acquisition
will make Sika a strong player in the in-
terior finishing construction market and
will complement our product range.”
The proceeds will be used to repay
short-term debt and improve liquidity.
RPM Performance Coatings
Group Acquires Commercial
Floor Business
RPM International Inc.’s Performance
Coatings Group (PCG) has acquired
Expanko, Inc., a producer of terrazzo
tile under the FritzTile brand, as well as
cork, rubber and rubber/cork floor tiles,
primarily for the education, healthcare,
hospitality and sports/entertainment
commercial markets. Headquartered in
Exton, Pennsylvania, with manufacturing
in Mesquite, Texas, Expanko has annual
sales of more than $12 million. Terms
of the transaction, which is expected to
be accretive to earnings within one year,
were not disclosed.
PPG PMC Business to Offer
Amercoat Brand Coatings in
Mexico
PPG Industries’ protective and marine
coatings (PMC) business announced
that customers in Mexico can order
Amercoat brand products directly from
PPG. Products sold and serviced by PPG
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, 10, 34, 36
Asian Paints ................................................................................................... 10
Axalta Coating Systems ........................................................................... 10, 100
BASF .....................................................................................................8, 10, 36
Benjamin Moore ............................................................................................. 10
CeralUSA ........................................................................................................ 10
Crown Paints .................................................................................................. 38
Dunn-Ed wards ................................................................................................ 34
Dow Corning .................................................................................................. 26
H.B. Fuller .................................................................................................... 100
Hempel ........................................................................................................... 10
Henkel ............................................................................................................ 26
Hentzen Coatings............................................................................................ 10
Lanco Paints and Coatings .............................................................................. 40
NEI Corp. ....................................................................................................... 34
Nippon Paints ...................................................................................... 10, 26, 34
PPG..................................................................................8, 10, 26, 34, 100, 106
Randolph Products.......................................................................................... 10
RPM ................................................................................................................. 8
Saint Gobain ................................................................................................... 34
Sherwin-Williams ................................................................................. 10, 26, 34
Sansin.............................................................................................................. 10
Standox........................................................................................................... 10
Sika ......................................................................................................8, 36, 100
Tikkurila ......................................................................................................... 36
Tnemec ........................................................................................................... 10
Valspar ............................................................................................................ 10
Weatherprufe Coatings.................................................................................... 38
