Please wait.'

Page is loading'


Home  > Markets & companies  > Coatings market  > Akzo Nobel acquires Chinese decorative pai...

Sunday, 22 September 2019
pdf
Markets & companies, Coatings market

Akzo Nobel acquires Chinese decorative paints joint venture

Friday, 14 December 2018

Akzo Nobel has signed and closed the acquisition of Swire Industrial Limited’s minority interest in the Akzo Nobel Swire Paints (ANSP) joint venture.

Akzo Nobel invests in the Chinese market for decorative paints. Source: euthymia – stock.adobe.com.

Akzo Nobel invests in the Chinese market for decorative paints. Source: euthymia – stock.adobe.com.

Having held the majority share in the decorative paints joint venture since 1989, Akzo Nobel has now acquired full ownership. This acquisition strengthens Akzo Nobel’s position in the Chinese decorative paints market while also increasing the flexibility to further develop the business.

Strategic growth market

Thierry Vanlancker, CEO of Akzo Nobel, said: "China has been, and continues to be, a strategic growth market for Akzo Nobel. The timing of this acquisition is perfect. It will strengthen our leading position and help drive our value creation ambition for China. It also supports our ongoing transformation into a focused paints and coatings company and gives further mom entum to our strategy of achieving 15 % return on sales by 2020.”

About ANSP

The ANSP joint venture manufactures and distributes decorative paints. Manufacturing plants are located at Guangzhou (including a 10 % joint venture with a local partner), Shanghai, Langfang and Chengdu.

Related content

Akzo Nobel and PPG Industries strengthen their businesses with minor acquisitions

Ranking: The 25 largest coatings producers in Europe

top of page
Comments (0)
Add Comment

Post comment

You are not logged in

register