International. This agreement strengthens the company's portfolio of high-performance coatings.
The acquired business will complement AkzoNobel's existing powder coating offering and expand the company's range of innovative products.
Operating from a manufacturing site in Leipzig, Germany, Lankwitzer's tire and wheel business supplies approved products for automakers such as Daimler, Audi, VW, Opel, Fiat and Renault.
The company also has a growing presence in China and operates laboratories in Germany (Leipzig) and Turkey.
The deal was first announced in July 2022.