27 November 2017
AkzoNobel has today agreed to acquire
the business of V.Powdertech Co., Ltd.,
the leading Thai manufacturer of powder coatings,
supplying a range of products for domestic appliances,
furniture and general industrial applications,
and currently employing more than 250 employees.
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 transaction includes
* all relevant technologies,
* patents and trademarks, as well as
* a manufacturing plant in Samutsakhon, Thailand.
In addition, the employees from V.Powdertech
will be joining AkzoNobel, bringing with them
product and market expertise
to serve an expanded customer base in the region.
Completing this acquisition will secure the position of AkzoNobel
as one of the largest powder coatings players in South East Asia.
The valuable addition of V. Powdertech’s state-of-the-art
manufacturing plant further strengthens
AkzoNobel’s manufacturing foot print
in fast growing markets in South East Asia,
providing a solid foundation
to accelerate profitable growth in the region.
The transaction is expected to be completed
within the coming weeks.
Ruud Joosten,
AkzoNobel’s COO of Paints and Coatings
“We are pleased to welcome our new colleagues 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.”
Media Relations
WWW.CHEMWINFO.COM BY KHUN PHICHAI