Akzo Nobel has strengthened its business in Asia by acquiring 100 % shares in Colourland Paints — a home-grown paints and coatings manufacturer with wide distribution across Malaysia.
Amsterdam/The Netherlands — The acquisition enhances the global portfolio of the speciality chemicals company with a popular local brand. It also means the company will be able to provide an improved customer experience through an expanded product offering and distribution network. Financial details were not disclosed.
According to Oscar Wezenbeek, Managing Director of Akzo Nobel Decorative Paints in the region, this deal marks another milestone in ensuring that the company continues to deliver the best brand and customer experience. The combination of global and local expertise would also be an excellent strategic fit and would accelerate the development as the company further builds on their strong market position in Malaysia. The transaction includes all relevant technologies, patents, trademarks and assets of Colourland.