AkzoNobel Expands in Chinese Automotive Market
November 1, 2010
AMSTERDAM, The Netherlands – AkzoNobel is boosting its presence in the Chinese automotive market after agreeing to acquire Changzhou Prime Automotive Paint Co. Ltd. Prime is one of China’s largest vehicle refinish suppliers and a leader in the fast-growing, mid-market segment. Based in Jiangsu Province, the company develops, manufactures, markets and distributes automotive coatings, primarily for the refinish market. AkzoNobel plans to double its revenue in China to $3 billion within five years.