AkzoNobel formally acquires Dow powder business
Felling, June 1st, 2010 - AkzoNobel has today completed its acquisition of the Dow Chemical Company’s powder coatings activities. The deal was first announced in November last year.
Originally purchased by the Dow Chemical Company in 2009 as part of its acquisition of Rohm & Haas Company, the business brings key technological knowhow and significant synergy potential to AkzoNobel’s own Powder Coatings activities. It will also enhance the company’s position in the US.
“We are delighted to be able to begin the integration of Dow Powder Coatings into AkzoNobel,” said Rob Molenaar, Managing Director of AkzoNobel Powder Coatings. “We are looking forward to working with our new colleagues and exploring the exciting opportunities this integration offers while ultimately delivering world class products and service to our customers.”
The acquired business achieves global sales of several hundred million dollars and employs around 700 people, operating factories in the US, Europe and China.
As well as complementing AkzoNobel’s position in key strategic markets – especially the US, automotive and trade coaters – the deal also introduces MDF and thermoplastic capabilities to AkzoNobel’s existing expertise.
Powder coatings technology has an impressive sustainability profile. For example, powder coatings contain no solvents and can have application efficiency levels as high as 99 percent.
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