AkzoNobel today announced the sale of its Specialty Chemicals business to private equity firm The Carlyle Group and GIC Pte. Ltd., Singapore’s sovereign-wealth fund, for €10.1 billion ($12.5 billion). The sale, part of the plan announced last spring, to split the company into two units with one focusing on Paints and Coatings, and the other Specialty […]
Axalta and Nippon Paint End Acquisition Talks
Axalta Coating Systems (NYSE:AXTA) yesterday confirmed that its previously announced discussions on a possible acquisition by Nippon Paint have ended. According to Axalta, Nippon Paint’s Board of Directors were unwilling to meet Axalta’s expectations regarding the value of the company and assume the financial leverage necessary for the deal. “Axalta is a premier company in […]
AkzoNobel Shareholders Approve Separation of Specialty Chemicals Business
Akzo Nobel N.V. (OTCMKTS:AKZOY) shareholders today approved the separation of its Specialty Chemicals business as part of its strategy to create two focused, high performing businesses; Paints and Coatings and Specialty Chemicals. The approval came during its Extraordinary General Meeting (EGM) held today. AkzoNobel intends to return the vast majority of the net proceeds from […]
Axalta Confirms Acquisition Discussions with Nippon Paint
Following closely on the announcement that it had ended talks with AkzoNobel on a possible merger, Axalta Coating Systems (NYSE:AXTA) confirmed Wednesday, November 22 it has entered into discussions with Nippon Paint over a possible sale to the Japan-based coatings manufacturer. In a statement released Wednesday Axalta confirmed the discussions saying “Axalta today confirmed that […]
AkzoNobel and Axalta End Merger Discussions Without Agreement
AkzoNobel N.V. (OTCMKTS:AKZOY) and Axalta Coating Systems (NYSE:AXTA) announced this afternoon that they have ended their discussion into a possible merger without an agreement to combine the companies. On October 30, both AkzoNobel and Axalta confirmed they were engaged in discussions into a possible “merger of equals” of the two global coatings companies. According to […]
AkzoNobel Opens Training Centre in Dubai
AkzoNobel has opened its first regional Application Training Center in Dubai. The new facility will offer advanced training programs for AkzoNobel customers, enabling them to build capacity and deepen their knowledge of paints and coatings. It will focus in particular on OEMs and refinishers in industries as diverse as automotive and rail, aerospace, and consumer […]
AkzoNobel Launches Digital Workflow Tool
AkzoNobel announced a new digital tool, Carbeat, that offers collision repair facilities simpler workflows and easier access to information by giving a real-time overview of the repair process. This information is then made available to managers, team leaders, technicians and third parties, which in turn creates improved transparency and communication. The application is deployed on […]
AkzoNobel and HELLA S.A. Introduce Wanda Brand in Spain
AkzoNobel announced it is introducing of its vehicle refinishes brand Wanda in Europe through it’s long-term partner HELLA S.A. Spain is the first European country to see the launch of Wanda and will be introduced in other European countries starting next year. “As part of the AkzoNobel high-performing product family, Wanda draws on world-leading expertise […]
AkzoNobel and Axalta Confirm Merger Discussions
Following press reports on Friday and over the weekend, the coatings manufacturers confirmed they have had discussions on a potential merger of equals AkzoNobel and Axalta Coating Systems confirmed today that they have engaged in discussions about a possible merger of the two global coatings companies. On Friday afternoon, Reuters reported that unnamed sources indicated […]
AkzoNobel Converts to Green Energy for Paint Production in the Netherlands
AkzoNobel has signed an agreement energy company Eneco under which all of the company’s paint and production facilities in Sassenheim, Wapenveld, Groot Ammers and Ammerzoden in the Netherlands are entirely using electricity generated by wind power. All of AkzoNobel’s paint and coatings production in the Netherlands is now powered by green energy, marking another milestone […]