AkzoNobel Powder Coatings to Take Control of South African JV
AMSTERDAM, the Netherlands - AkzoNobel Powder Coatings is strengthening its position in Africa by acquiring 100 percent of the powder coatings joint venture in South Africa. After more than 40 years of a mutually beneficial relationship, Akzo Nobel Powder Coatings South Africa (Pty) Ltd. and Freeworld Coatings (through its Plascon subsidiary) concluded participation in the original joint venture. The deal underlines AkzoNobel’s commitment to developing business on the African continent.
AB Ghosh, AkzoNobel Powder Coatings Managing Director, commented, “This acquisition highlights our confidence in this important market, and South Africa is strategically well located for us to continue and to expand on the excellent work we are doing in Africa.”
The 100-percent acquisition will bring value to AkzoNobel customers by allowing the company to leverage scale across all of its businesses present in the region. This underlines the company’s determination to accelerate growth and to build leadership positions across all global markets.