DuPont Co. and Kansai Paint Ltd. of Japan agreed to terminate their automotive-coatings joint-venture relationships, citing "incompatible global strategies." The companies did not provide further details or comment on the action.
The Dow Chemical Co. announced a reorganization of its global business groups into three units as part of an effort to improve the company's financial performance and strengthen long-term prospects.
Tikkurila Coatings Oy, responsible for Kemira's industrial coatings activities, has acquired Akzo Nobel Coatings' general industrial liquid coatings activities in Hungary.
The Valspar Corp. has acquired De Beer Lakfabrieken, a privately owned manufacturer of automotive-refinish coatings based in Lelystad, The Netherlands.
ICI Paints' North American division has acquired eight architectural-paint stores in the San Joaquin Valley of California from Wilshire Paint Co. in a transaction that ICI Paints said expands the company's total of retail paint stores to 75 in the state.
Avecia announced a definitive agreement to sell its Additives business, part of the company's Specialty Products portfolio, to The Lubrizol Corp. for an undisclosed price.
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