Akzo Nobel acquires V.Powdertech business
Akzo Nobel has acquired the business of V.Powdertech Co., Ltd., a Thai manufacturer of powder coatings, supplying a range of products for domestic appliances, furniture and general industrial applications.
The transaction is expected to be completed within the coming weeks.
Manufacturing plant in Samutsakhon
The acquisition will bring new technologies to complement Akzo Nobel's global business in market segments such as architectural and automotive coatings. The transaction includes all relevant technologies, patents and trademarks, as well as a manufacturing plant in Samutsakhon, Thailand. In addition, the 250 employees from V.Powdertech will be joining Akzo Nobel.
Targeting new growth segments
“This business will further strengthen our leading market positions in powder coatings in South East Asia. With V. Powdertech's brand, we will be able to target new growth segments”, said Ruud Joosten, Akzo Nobel's COO of Paints and Coatings.
Strong position in South East Asia
Completing this acquisition will secure the position of Akzo Nobel as one of the largest powder coatings players in South East Asia. The addition of V. Powdertech's manufacturing plant further strengthens Akzo Nobel's manufacturing foot print in fast growing markets in South East Asia.
