Akzo Nobel to acquire the Rims and Wheel business from Lankwitzer
Akzo Nobel is to bolster its performance coatings portfolio after reaching an agreement to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. Completion, which is subject to regulatory approvals, is expected before the end of 2022. Lankwitzer’s Rims and Wheel business operates out of a manufacturing site in Leipzig, Germany.
Growing presence in China
As well as the Leipzig facility, Lankwitzer’s wheel coatings business – which has a growing presence in China – operates laboratories in Germany (Leipzig) and Türkiye.
The intended transaction follows on from a series of recent acquisitions by Akzo Nobel over the last two years, including Grupo Orbis in Latin America, Titan Paints in Spain and Portugal, New Nautical Coatings in the US and, most recently, the intended acquisition of the African paints and coatings activities of Kansai Paint.