Akzo Nobel, BASF Announce Deals to Swap Coatings Businesses in Europe
In the transactions, Akzo Nobel will acquire BASF's Wood Construction Business, a supplier of coatings for doors and windows. Production will be transferred from a BASF site in Münster, Germany, to Akzo Nobel's Decorative Coatings site in Cologne, Germany. The business had sales of 17 million euros in 2003.
BASF will acquire portions of Akzo Nobel's liquid-coatings activities in the agricultural-, construction- and earthmoving-equipment segment. The activities are part of Akzo Nobel's Car Refinishes business in Germany, Austria, France, Italy, Switzerland and Spain. Production will be transferred to BASF locations from Akzo Nobel's sites in Zona Franca, Spain; Stuttgart, Germany; and Montataire, France.
Both companies said the transactions reflect strategic plans to focus on certain core coatings businesses and segments.