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 […]
AkzoNobel Finalizes Acquisition of Disa Technology
AkzoNobel has finalized the acquisition of French manufacturer Disa Technology (Disatech). Headquartered in Limoges, France, Disatech is the leader in aerospace technical marking systems. The company specializes in the manufacture of self-adhesive vinyl, polyester and polycarbonate films used on aircraft, vehicles, agricultural machinery and other equipment. The acquisition of Disatech will bring new technologies and […]
AkzoNobel Announces New Executive Committee Structure
Ruud Joosten named COO, will lead Paints & Coatings businesses. AkzoNobel today announces a new structure for its Executive Committee. The move follows last week’s announcement that Thierry Vanlancker was taking over the role of CEO for the company. In the new Executive Committee announced today, the following roles will continue: Chief Executive Officer (Thierry […]
Thierry Vanlancker Named New CEO of AkzoNobel
Former DuPont coatings executive takes over from Ton Büchner who is stepping down due to health reasons. AkzoNobel announced today that Ton Büchner, chief executive officer, is stepping down immediately due to health reasons. Thierry Vanlancker was announced as the new CEO. Vanlancker was most recently head of Specialty Chemicals at AkzoNobel, having joined the […]
PPG Drops AkzoNobel Takeover Bid
Paint manufacturer will not make a public takeover offer for competitor. PPG (NYSE:PPG) today announced that it has withdrawn its proposal to acquire AkzoNobel (OTCMKTS:AKZOY) and will not pursue a public offer for the company. Under Dutch law, PPG had to make a decision today to pursue a formal takeover attempt or pause for a […]
Keith Bell Named North American Sales Leader, Distribution, OEM and Industry Relations at AkzoNobel
Keith Bell has been named North American Sales Leader, Distribution, OEM and Industry Relations at AkzoNobel Vehicle Refinishes North America. Bell previously served as U.S. Sales Leader for the East Market. In his new role Bell will work with the company’s North American distribution network, AkzoNobel’s Distributor Council and other key distributor programs. Bell has […]
Court Rules in AkzoNobel’s Favor in Suit to Unseat Chairman Over PPG Takeover Bid
AkzoNobel (OTCMKTS:AKZOY)yesterday prevailed in a lawsuit brought by investor Elliott Advisors that sought to unseat AkzoNobel’s chairman over the paint manufacturer’s continued resistance to the takeover bid by PPG Industries (NYSE:PPG) that was launched earlier this year. The decision by Amsterdam Enterprise Chamber rejected Elliott’s request to force AkzoNobel to hold a special shareholder meeting […]
PPG Issues Statement on AkzoNobel Decision
Says it will assess and decide whether or not to continue to pursue an offer. PPG (NYSE:PPG) today issued a statement on its merger proposal to AkzoNobel (AKZA.AS:AKZOY). On Monday, AkzoNobel rejected PPG’s third offer. According to the PPG statement: PPG has reviewed AkzoNobel’s May 8, 2017, response to PPG’s revised proposal of April 24, […]
AkzoNobel Rejects Third Offer from PPG
Decision follows review including direct engagement with Board members of PPG. AkzoNobel today announced it has declined a third proposal submitted by PPG Industries on April 24, for all outstanding ordinary shares in the capital of AkzoNobel. According to AkzoNobel, the company concluded its own strategy, presented on April 19, “…offers a superior route to […]
PPG Makes Third Offer to AkzoNobel
Raises price and commits to break-up fee if antitrust approvals cannot be secured. PPG (NYSE:PPG) today announced that it submitted a revised proposal for a merger with Akzo Nobel N.V. (AKZA.AS; OTCMKTS:AKZOY). The proposal letter, which was provided to Antony Burgmans, Chairman of the Supervisory Board and Ton Büchner, Chief Executive Officer and Chairman of […]