BASF intends to sell its global industrial coatings business to AkzoNobel
General agreement has been reached
BASF’s industrial coatings business generated sales of approximately €300 million in 2015 and supplies products for a number of end uses, including coil, furniture foil and panel coatings, as well as coatings for wind energy plants, general industry and commercial transport. “We have successfully developed our global industrial coatings business over the last years with a clear focus on attractive market segments. To further develop the business, we see positive growth prospects under the umbrella of AkzoNobel, which is a leading global player in industrial coatings,” said Markus Kamieth, President of BASF’s Coatings division. With this transaction, BASF will further strengthen its focus on its core automotive OEM and automotive refinish coatings businesses as well as the leading decorative paints business with its brand Suvinil® in Brazil.
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