ARNHEM, The Netherlands - Akzo Nobel Coatings has boosted its stake in the Greek paint company Vivechrom by 25%, from 51% to 76%. Akzo Nobel described Vivechrom as the leading brand in the Greek decorative-paint market.

Akzo Nobel has held a stake in Vivechrom for more than 10 years, a period during which Vivechrom "has grown into the clear market leader," said Rudy van der Meer, the member of the Akzo Nobel board responsible for coatings. "This investment leaves us ideally placed to play an even greater part in future growth in this area," he said.

Akzo Nobel said Vivechrom has recently made a number of major investments in production and warehousing operations, giving it the most modern paint-production facilities in Greece.