International.
It was confirmed that BASF closed the deal with AkzoNobel to sell it all of its global industrial coatings businesses.
This deal includes a whole package of technologies, patents and trademarks, as well as the transfer of dedicated production sites in Deeside, UK, and Vanderbijlpark, South Africa.
As a result of this transaction, AkzoNobel will now operate coils, furniture sheets and panel coverings, roller coatings and the general industry businesses acquired from BASF, as well as the commercial transport business in EMEA. These businesses generated sales of approximately €300 million in 2015.
The remaining portfolio of the Paints division, which consists of the automotive paint and automotive repair coatings businesses, as well as the decorative paints business with the leading Suvinil® brand in Brazil, had sales of approximately €2.9 billion in 2015. The Paints business has been strengthened with the acquisition of Chemetall, a supplier of surface treatments, which closed the previous week.
