Akzo Nobel expanding coatings activities in the Czech Republic
Balakom - which has 183 employees - produces paints, varnishes, enamels and lacquers, as well as powder coatings. Sales, which are mainly in the domestic market, totaled EUR 16 million in 2005. The transaction - for which regulatory approvals are being sought - represents the latest in a series of deals involving Akzo Nobel Decorative Coatings, with acquisition agreements having also been signed in the Ukraine, China, Switzerland and Germany during recent months. Akzo Nobel has also made an offer to acquire Sico Inc., Canada's leading coatings company.
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