AkzoNobel to Acquire Titan in Spain
AkzoNobel has announced its agreement to acquire the decorative paints business of Spain’s Industrias Titan S.A.U. Completion is subject to regulatory approvals and expected before the end of Q1, 2021.
“The acquisition will enable us to better serve our customers and provides added momentum, while also offering further proof of us being the reference in paints and coatings in Europe. The fact that a significant part of Titan’s portfolio has been awarded the European Ecological label also offers exciting possibilities for combining our technologies and expertise, which will result in us developing better and more sustainable products,” said AkzoNobel CEO, Thierry Vanlancker.
Alberto and Joaquin Folch-Rusiñol, Industrias Titan S.A.U administrators added that the company is confident that AkoNobel will care for Titan’s legacy in the same way the Titan family has done for over 100 years. “Titan has a proud heritage and a long track record of innovation and continuous improvement – qualities that we strongly relate to. It’s therefore a perfect fit for us and will provide a solid platform to further grow our position throughout the region,” said Vanlancker.