Akzo Nobel (AKZA)


AEX Index

  • Change Today:
  • 52 Week High:  107.80
  • 52 Week Low:  79.74
  • Currency: Euro
  • Shares Issued: 189.90m
  • Volume: 0
  • Market Cap:  19,541m
  • Beta: 0.65

Akzo Nobel to buy Thai powder coatings manufacturer V.Powdertech

By Michele Maatouk

Date: Monday 27 Nov 2017

LONDON (ShareCast) - (ShareCast News) - Dulux owner Akzo Nobel has agreed to buy Thai powder coatings manufacturer V.Powdertech for an undisclosed sum.
Akzo said the acquisition will bring new technologies and services that will complement its global technology portfolio and business in market segments such as architectural and automotive coatings.

The deal includes all relevant technologies, patents and trademarks, as well as a manufacturing plant in Samutsakhon, Thailand. In addition, V.Powdertech's employees will join Akzo's.

Ruud Joosten, chief executive officer of Paints and Coatings, said: " 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."

The acquisition of V.Powdertech - which also supplies a range of products for domestic appliances, furniture and general industrial applications - is expected to be completed within the coming weeks.

At 1037 GMT, the shares were down 0.2% to €77.72.

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Akzo Nobel Market Data

Currency Euro
Share Price   102.90
Change Today   0.00
% Change 0.00 %
52 Week High  107.80
52 Week Low  79.74
Volume 0
Shares Issued 189.90m
Market Cap  19,541m
Beta 0.65

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