AMSTERDAM, The Netherlands - AkzoNobel announced it is acquiring the worldwide assets of Swedish-based Lindgens Metal Decorating Coatings and Inks. The deal includes the majority stake in the Server Boya joint venture in Turkey. Closing is expected to take place in the third quarter of this year.
The deal will add technology and expertise to AkzoNobel's own packaging-coatings activities, particularly in the market for inks printed on the outside of two-piece metal packaging.
"This is an excellent acquisition, which boosts our capability and is perfectly in line with our growth strategy," explained Leif Darner, the AkzoNobel Board member responsible for performance coatings. "It will strengthen our position in metal packaging decoration and enhance our presence in important markets such as Russia, Turkey and Australia."
Established in 2005, Lindgens, which achieved 2009 sales of approximately EUR 25 million, manufactures and markets complete system solutions of coatings and inks for the metal packaging industry.