AkzoNobel has today agreed to acquire the worldwide assets of Swedish-based
company Lindgens Metal Decorating Coatings and Inks, including its majority
stake in the Server Boya joint venture in Turkey. Financial details were not
disclosed.
The deal will add technology and expertise to AkzoNobel's own Packaging Coatings
activities, particularly in the market for inks printed on the outside of
two-piece metal packaging.
"This is an excellent acquisition which boosts our capability and is perfectly
in line with our growth strategy," explained Leif Darner, the AkzoNobel Board
member responsible for Performance Coatings. "It will strengthen our position in
metal packaging decoration and enhance our presence in important markets such as
Russia, Turkey and Australia."
Conrad Keijzer, Managing Director of AkzoNobel's Industrial Coatings business,
added: "As well as reinforcing our position in metal packaging, this transaction
will also enable us to offer a number of unique technologies and support our
customers with a comprehensive inks and coatings portfolio."
Consultations with employee representatives will be held as and when
appropriate. Closing is expected to take place in the third quarter of this
year.
Said Peter Koivula, Chairman of Lindgens Group: "With the continuing
globalization of our marketplace, this strategic deal will help to ensure that
all Lindgens and Server Boya customers around the world continue to benefit from
the right products, technologies and services both now and in the future."
Established in 2005, Lindgens - which achieved 2009 sales of approximately
?25 million - manufactures and markets complete system solutions of coatings and
inks for the metal packaging industry.
AkzoNobel's global Packaging Coatings business is a leading supplier of internal
and external coatings for beer and beverage cans, food cans, caps and closures
and general line cans.
- - -
AkzoNobel is the largest global paints and coatings company and a major producer
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers for
our customers. Our portfolio includes well known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are a
Global Fortune 500 company and are consistently ranked as one of the leaders on
the Dow Jones Sustainability Indexes. With operations in more than 80 countries,
our 55,000 people around the world are committed to excellence and delivering
Tomorrow's Answers Today(TM).
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Relations, tel. +31 20 502 7854
Contact: Oskar Bosson Contacts: Huib Wurfbain and Ivar
Smits
[HUG#1431818]
Pdf file AkzoNobel press release: http://hugin.info/130660/R/1431818/378130.pdf
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Source: Akzo Nobel NV via Thomson Reuters ONE
