AkzoNobel Completes Acquisition of Korean SSCP’s Coatings Activities
AMSTERDAM, the Netherlands - AkzoNobel has completed the acquisition of the coatings business of Korean SSCP. SSCP is a leading Korean specialty plastics coatings company and has a strong position in the Korean mobile phone market and also supplies coatings to the wider consumer electronics industry. Around 200 employees and two factories will join AkzoNobel’s Industrial Coatings Business Unit.
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.
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