The deal was first announced on June 30 of 2011 and included the German-based Schramm – a manufacturer of coatings for plastics, metals and electrical insulation, as well as coil coatings for aluminum. In early October, the acquisition of Schramm was completed. SSCP was the majority shareholder of Schramm.
The combined deal enables AkzoNobel to become the global leader in specialty plastic coatings.
“This acquisition shows our continued commitment to the Asian market and to the fast-growing Korean electronics and automotive industry,” said Conrad Keijzer, Managing Director of AkzoNobel Industrial Coatings.