AkzoNobel to acquire Dow powder coatings activities

11/12/2009, 8:01 AM (Source: GlobeNewswire)
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. Financial details were not

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 this
year as part of its acquisition of Rohm & Haas. This business
achieves global sales of several hundred million dollars and employs
around 700 people.

"This is a strategic acquisition which will enable us to further
penetrate key industrial coatings segments," explained Leif Darner,
the AkzoNobel Board member responsible for Performance Coatings. "By
adding new powder technologies to our extensive portfolio we will be
even better equipped to lead the way in meeting the increasing demand
for innovative products with strong environmental profiles."

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

"Our intention is to move towards a more dedicated approach, whereby
sites concentrate on specific technologies," added Rob Molenaar,
Managing Director of AkzoNobel Powder Coatings. "These planned
manufacturing enhancements and synergies will deliver improved
operational efficiency and ultimately enable us to better serve our
customers worldwide."

Powder coatings offer an attractive alternative to liquid coatings
due to the fact that they are inherently sustainable because they
contain no solvents and have application efficiency levels as high as
99 percent.

The transaction is expected to close during the second quarter of
2010, subject to customary closing conditions, including regulatory
approvals. Consultations with employee representatives will be held
as and when appropriate.

- - -
AkzoNobel is proud to be one of the world's leading industrial
companies. Based in Amsterdam, the Netherlands, we make and supply a
wide range of paints, coatings and specialty chemicals - 2008 revenue
totaled ¤15.4 billion. In fact, we are the largest global paints and
coatings company. As a major producer of specialty chemicals we
supply industries worldwide with quality ingredients for life's
essentials. We think about the future, but act in the present. We're
passionate about introducing new ideas and developing sustainable
answers for our customers. That's why our 58,000 employees - who are
based in more than 80 countries - are committed to excellence and
delivering Tomorrow's Answers Today(TM).

Not for publication - for more information
Corporate Media Relations, tel. +31 20 502 7833
Corporate Investor Relations, tel. +31 20 502 7854
Contact: Tim van der
Zanden Contacts:
Huib Wurfbain and Ivar Smits

This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

View document
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.