The fortunes of major coatings manufacturers continued to improve in the second quarter, building on the momentum of late 2003 and the first quarter of 2004.
Rockwood Specialties Group Inc. subsidiary Rockwood Pigments (UK) Ltd. announced a definitive agreement to acquire the Pigments and Dispersions business of Johnson Matthey plc for approximately $50 million.
Akzo Nobel's Decorative Coatings business announced an agreement to acquire Timpe & Mock, reported to be the second-largest architectural-paint wholesaler in Germany.
INSL-x Products Corp. announced an agreement to acquire Wattyl Ltd.'s Coronado Paint Co. Inc. and Lenmar Inc. coatings units, as Australia-based Wattyl moved to sell its remaining U.S. coatings businesses.
Akzo Nobel announced the introduction of a waterborne exterior wood coating billed as a "pioneering" advance in coatings technology due to a solids content of approximately 65% and "nearly zero" VOC content.
The investment firm Apollo Management L.P. announced an agreement to acquire Borden Chemical Inc., a supplier of thermoset and other high-performance resins, adhesives and specialty chemicals, for approximately $1.2 billion including the assumption of outstanding debt.
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