Akzo Nobel Acquires Full Ownership of Asian JV
August 1, 2006
ARNHEM, The Netherlands - Akzo Nobel has gained full control of its Asian Akzo Nobel Chang Cheng Coatings joint venture after acquiring the remaining shares. The transaction, which involved purchasing the outstanding 16.66% shares owned by main partner Chang Cheng Securities, means that the company now wholly owns its powder coatings operations in China, Taiwan and Hong Kong.
The transaction, which is subject to regulatory approvals, involves a total of six sites, four of which are located in China.