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Protech/Oxyplast Offers to Buy Flanders' Powder Coatings Business (11/1/06)
October 31, 2006
The Protech/Oxyplast Group of Montreal, through its Belgian affiliate, Oxyplast Belgium NV, has offered to purchase the powder coatings business of Flanders Powder NV of Wevelgem, Belgium. The company said that the eventual outcome of such a transaction would be the emergence of a stronger leading powder coatings manufacturer in the Benelux region. The potential deal would also include the acquisition of a participation in Ekopowder of Opava, Czech Republic, by the Protech/Oxyplast Group, allowing the company to benefit from the fast-growing East European market. Both parties hope to conclude a transaction before the end of the current year.