Coatings Akzo Nobel to Acquire V Powdertech’s Business
To strengthen its powder coatings business in South East Asia, Akzo Nobel has acquired one of the leading Thai manufacturers of powder coatings to complement its global technology portfolio. The deal also includes attaining ownership of the latter’s manufacturing plant in Samutsakhon, Thailand.
Thailand – Akzo Nobel has recently agreed to acquire the business of V Powdertech Co., one of the leading Thai manufacturers of powder coatings, supplying a range of products for domestic appliances, furniture and general industrial applications, and currently employing more than 250 employees.
The acquisition of V Powdertech will bring new technologies and services to complement Akzo Nobel’s global technology portfolio and business in market segments such as architectural and automotive coatings.
The transaction includes all relevant technologies, patents and trademarks, as well as a manufacturing plant in Samutsakhon, Thailand. In addition, the employees from V Powdertech will be joining Akzo Nobel, bringing with them product and market expertise to serve an expanded customer base in the region.
Completing this acquisition will secure the position of Akzo Nobel as one of the largest powder coatings players in South East Asia. The valuable addition of V Powdertech’s state-of-the-art manufacturing plant further strengthens Akzo Nobel’s manufacturing foot print in fast growing markets in South East Asia, providing a solid foundation to accelerate profitable growth in the region.