AMSTERDAM, The Netherlands - AkzoNobel is enhancing its portfolio of sustainable technologies after signing an agreement with The Dow Chemical Co. (Dow) to acquire Dow's powder coatings activities.
The deal will bring key technological know-how and significant synergy potential to AkzoNobel's Powder Coatings business, as well as enhancing the company's position in the United States.
The powder coatings activities were purchased by Dow earlier this year as part of its acquisition of Rohm & Haas. This business achieves global sales of several hundred million dollars and employs around 700 people.
Operating powder coatings factories in the United States, Europe and China, Rohm & Haas developed several important new technologies, especially for the automotive and architectural segments. The deal will also add MDF and thermoplastic capabilities to AkzoNobel's existing expertise.
The transaction is expected to close during the second quarter of 2010.