AkzoNobel Acquires BASF’s Industrial Coatings Business, Strengthens Position
AkzoNobel has finalised the acquisition of BASF’s global industrial coatings business, positioning it as a provider capable of protecting every part of a wind turbine and offering a single source of supply to customers. The agreement includes all relevant technologies, patents and trademarks, as well as two manufacturing plants in the UK and South Africa. Approximately 400 employees from BASF’s industrial coatings business will now join AkzoNobel. The transaction is valued at €475 million, with BASF’s business generating revenue close to €300 million in 2015.
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