AkzoNobel in discussion for potential purchase of BASF's industrial coatings business

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AkzoNobel in discussion for potential purchase of BASF's industrial coatings business

February 10, 2016 - 21:14
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AMSTERDAM, The Netherlands , Feb. 11, 2016 (Globe Newswire) -AkzoNobel confirms it is in discussions with BASF with regards a potential purchase of their Industrial Coatings business.

The strategy of AkzoNobel of driving operational excellence and organic growth includes the possibility to pursue value generating, bolt-on acquisitions.

No further details will be made available at this stage.

AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. Calling on centuries of expertise, we supply industries and consumers worldwide with innovative products and sustainable technologies designed to meet the growing demands of our fast-changing planet. Headquartered in Amsterdam, the Netherlands, we have approximately 45,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as one of the leaders in the area of sustainability, we are committed to making life more liveable and our cities more human.