AkzoNobel Acquires Soliant LLC
September 11, 2008
TROY, MI - AkzoNobel has strengthened its position in the automotive plastics decorating market through the acquisition of Soliant LLC, a manufacturer of decorative paint and bright films.
Soliant’s eco-friendly coatings alternatives are used primarily in the automotive market. The acquisition will improve the global AkzoNobel automotive plastics coatings position by realizing the synergies of a combined liquid and film product line and providing AkzoNobel customers with sustainable solutions that maximize performance, color accuracy and cost management. According to Jim Rees, General Manager for AkzoNobel Car Refinishes,
“The acquisition of Soliant LLC affirms our position of investing in ‘green’ technologies that offer substantial and sustainable growth potential. This addition to our portfolio is about developing a new approach to our markets. It creates a strong platform for future growth based on the broader concepts of decoration and not simply painting. It enables us to meet our commitment to provide tomorrow’s answers today by combining the technology leadership and operational excellence of Soliant with the global market reach and customer base of AkzoNobel. We look forward to welcoming the Soliant team into the AkzoNobel portfolio of businesses.” Rees adds that Soliant is especially attractive because of the strong management team in place and the unique intellectual properties, protected by patents, upon which its product offerings are based.
Soliant’s Fluorex® paint films and bright films complement AkzoNobel’s strong liquid coatings portfolio. This combination of film and liquid paint enables AkzoNobel to offer customers another option in its full range of decorating choices. Soliant has developed outstanding manufacturing technologies and possesses technological know-how in a specialized field that is increasingly important as the automotive industry looks for eco-friendly coatings solutions. It currently supplies many of the leading auto manufacturers and producers of automotive parts.
Soliant was established in 2002 as a management buyout from former owner Rexam PLC. It operates a manufacturing facility in Lancaster, SC, employing approximately 100 employees.
The acquisition is expected to be completed by the end September 2008.