AkzoNobel to Acquire V.Powdertech Business
December 4, 2017
AkzoNobel has agreed to acquire the business of V.Powdertech Co., Ltd., the Thai manufacturer of powder coatings. The acquisition of V.Powdertech will bring new technologies and services to complement AkzoNobel’s global technology portfolio and business in market segments such as architectural and automotive coatings, the company stated.
The transaction includes all relevant technologies, patents and trademarks, as well as a manufacturing plant in Samutsakhon, Thailand. Additionally, the more than 250 employees from V.Powdertech will join AkzoNobel, bringing with them product and market expertise to serve an expanded customer base in the region, according to AkzoNobel.
“This business is an excellent strategic fit and will further strengthen our leading market positions in powder coatings in South East Asia. With V. Powdertech’s strong brand, we will be able to offer a broader range of products and services to more customers and target new growth segments,” said Ruud Joosten, AkzoNobel’s COO of Paints and Coatings.
AkzoNobel stated that completing this acquisition will secure the company’s position as one of the largest powder coatings players in South East Asia and that the addition of V. Powdertech’s state-of-the-art manufacturing plant provides a solid foundation to accelerate profitable growth in the region.