Akzo Nobel to Acquire ICI's German Industrial Wood Finishes Business
October 1, 2005
SASSENHEIM, the Netherlands - Akzo Nobel is to boost its coatings activities in Germany with the acquisition of the ICI Group's wood finishes business, Zweihorn GmbH, which is based in Hilden. The two companies have reached an agreement for Akzo Nobel to acquire all shares in Zweihorn, which has 55 employees and recorded a 2004 turnover of approximately €18 million. Financial terms have not been disclosed.