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Tuesday, 24 September 2019
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Markets & companies

AkzoNobel strengthens its position in the packaging coatings business

Monday, 9 January 2012

AkzoNobel to take 100 % control of Italy-based Metlac Group

AkzoNobel expects to finalize the Metlac acquisition in Q2 2012.

Source: Ewe Degiampietro - Fotolia.com

AkzoNobel expects to finalize the Metlac acquisition in Q2 2012.

Source: Ewe Degiampietro - Fotolia.com

AkzoNobel plans to strengthen its position in packaging coatings by exercising the right to buy the remaining shares of Metlac, an Italian based packaging coatings producer. The coatings producer currently is a shareholder in the Packaging Coatings Metlac Group. This position was inherited from the acquisition of ICI in 2008. The deal underlines the company’s strong commitment to supporting the coatings and inks market for metal packaging. "This acquisition will reinforce our customer offering and links perfectly with the strategy to strengthen our positions in core markets", said Leif Darner, Executive Committee member responsible for Performance Coatings. The completion of the transaction is subject to antitrust approval. The company expects to finalize the acquisition in Q2 2012.

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