Holland. AkzoNobel announced plans to strengthen its position in the packaging coatings market through the right it has to buy the remaining shares of Metlac, a packaging coatings producer headquartered in Italy.
Details of the negotiation were not disclosed, but it is known that AkzoNobel is a shareholder of the Italian firm, a position that was inherited by the acquisition of ICI in 2008. The agreement maintains the company's commitment to supporting the market for inks and coatings for metal packaging.
"This acquisition will strengthen the offering of this class of products to our consumers and our position in the market," said Leif Darner, member of the executive committee of the High Performance Coatings area.
The entire transaction is subject to antitrust approval. The company expects to complete the acquisition in the second quarter of 2012.
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