China: Paints Akzo Nobel Takes Over Full Ownership of ANSP Joint Venture
The Akzo Nobel Swire Paints (ANSP) joint venture has now been fully acquired by the Dutch multinational company. This deal is expected to toughen the firm’s presence in the Chinese decorative paints market.
China – Akzo Nobel has recently signed and closed the acquisition of Swire Industrial’s minority interest in the Akzo Nobel Swire Paints (ANSP) joint venture. Having held the majority share in the decorative paints joint venture since 1989, Akzo Nobel has now acquired full ownership.
This acquisition strengthens the company’s leading position in the Chinese decorative paints market while also increasing the flexibility to further develop the business. The ANSP joint venture manufactures and distributes decorative paints, primarily under the Dulux brand. Manufacturing plants are located at Guangzhou (including a 10 % joint venture with a local partner), Shanghai, Langfang and Chengdu.