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Akzo Nobel in Powder Coatings joint venture in Mexico

11 Oct 2002 - Arnhem, the Netherlands, October 10, 2002 - Akzo Nobel Coatings has announced the purchase of a 50% stake in the leading Mexican powder coatings producer, Industrial de Acabados, S.A. de C.V. (INDA). The new joint venture company, Akzo Nobel INDA, S.A. de C.V., will manufacture and market powder coatings products under the global Interpon® Powder Coatings brand from the existing INDA facilities in Monterrey, Mexico.
 
"This investment underlines our continuing commitment to the global expansion of our powder coatings business," said Rudy van der Meer, Member of Akzo Nobel's Board of Management responsible for Coatings. "Powder coatings is one of the important growth sectors of the world's coatings market, and one in which we already have a leading position. Mexico continues to grow in importance as a key industrial manufacturing base within the North American Free Trade Agreement (NAFTA) and this investment will open up significant opportunities for us."
 
Bill McPherson, General Manager of Akzo Nobel's business unit Powder Coatings continued: "Many of our international customers have located their manufacturing in Mexico. This investment reflects one particularly important aspect of our global strategy, which is to supply our customers with the powder coatings products and services that they need, wherever they operate. INDA is a well-established and well-respected supplier of powder coatings in Mexico. Not only does the new joint venture boost our capability of serving existing customers in Mexico, but our Interpon powder technologies, products and services are also a perfect fit with INDA's customer base."
 
Commented Enrique G. Meyer, President of Akzo Nobel INDA: "INDA is a pioneer company in the powder coatings industry in Mexico. We are sure that the association with Akzo Nobel will prove to be very beneficial in servicing our current customer base with new products and will permit us to grow in a wider spectrum of market segments."