Commenting on the decision, AkzoNobel CEO, Greg Poux-Guillaume, said: “It's disappointing that this intended acquisition cannot move forward, but we remain committed to our strong businesses and leading brands in Africa."

The company’s rating places it among the top 5% of the chemical industry worldwide, with a risk rating score improvement of 5 since the last rating.

With its new subsidiary Bodo Möller Chemie Baltics OÜ in Tartu, Estonia, the specialty chemicals expert is now distributing the entire LOCTITE^® portfolio for industrial manufacture, and maintenance and repair of vehicles and industrial systems.

A new-to-market molecule brings a unique combination of balanced properties that deliver several performance advantages in waterborne automotive and industrial coatings and inks.

As a provider of automotive refinish solutions in India, the company is launching its premium car detailing and décor business, Cartisan.

This is the third consecutive year that the company has been recognized by EcoVadis for its outstanding performance in environmental, social, and ethical aspects.

The company’s financial strength and proven track record of strong sales and earnings growth in China enabled BASF to obtain highly attractive financing conditions for the loan.

The company has collaboratively launched an innovative approach to the challenge of carbon reduction in the vehicle repair industry, alongside strategic partners from across the value chain.

The new production line increases the company’s capacity on site, allowing a better response to rising demand for high-performance Foamaster^® and Foamstar^® products in South-East Europe, the Middle East and Africa.

The facility in the city of Huaibei in Anhui province will produce carbon black for a variety of applications, including coatings, printing inks, rubber, polymers, fiber, and rubber.