AkzoNobel to Acquire Mapaero
July 29, 2019
AkzoNobel has announced its intention to acquire French aerospace coatings manufacturer Mapaero. The intended acquisition will strengthen AkzoNobel’s global position in aerospace coatings, notably in the structural and cabin coating sub-segments, and contribute directly towards delivering the company’s 2020 guidance, AkzoNobel stated.
“The transaction will enable us to provide our customers with a much wider portfolio of innovative and sustainable products. It also demonstrates our commitment to continue investing in strategic growth opportunities as we progress further with our Winning together: 15 by 20 strategy and will be accretive towards our 15 percent return on sales target,” said AkzoNobel CEO Thierry Vanlancker.
AkzoNobel’s offer is subject to customary information and consultation procedures with Mapaero’s employee representative bodies and regulatory approvals. The transaction is expected to be completed in the second half of 2019.