AkzoNobel Acquires Full Ownership of Chinese Decorative Paints Joint Venture
AMSTERDAM — Akzo Nobel N.V. has closed the acquisition of Swire Industrial Limited's minority interest in the AkzoNobel Swire Paints (ANSP) joint venture. Having held the majority share in the decorative paints joint venture since 1989, AkzoNobel has now acquired full ownership.
This acquisition strengthens AkzoNobel's position in the Chinese decorative paints market while also increasing the flexibility to further develop the business.