Axalta CEO, who is stepping down in September, will lead business spun off to The Carlyle Group and GIC. Shaver led Axalta during transition from DuPont to Carlyle ownership and eventual public offering. As part of the strategy to separate Specialty Chemicals from its Paints and Coatings business, AkzoNobel announced in March 2018 that it […]
AkzoNobel Supports Collision Repair Career Outreach Effort at NACE Automechanika
AkzoNobel is a main sponsor of two events at next week’s NACE Automechanika show in Atlanta, Ga. designed to help ease the collision repair industry employee shortage. The events include the Career Connection Panel, and the I-CAR Rockin’ Rides Reception, which benefits the Collision Repair Education Foundation. “Right now, there is a critical shortage of […]
AkzoNobel’s Dave Smith Passes Away
AkzoNobel announced that Dave Smith, Regional Sales Leader for the U.S. East Market, passed away May 28. In a statement, the paint system manufacturer said: It is with great sadness that AkzoNobel announces the death of our dear friend and colleague, Dave Smith, who passed away on May 28, 2018. Dave was much respected by […]
AkzoNobel and Mercedes-Benz China Announce Supplier Agreement
AkzoNobel has become the recommended supplier of automotive refinishes for Mercedes-Benz China, the country’s leading luxury auto brand. The agreement means the company has become a certified supplier of vehicle refinishes to more than 50 auto companies in China over the last 20 years. “Becoming the recommended supplier of automotive refinishes for Mercedes-Benz China shows […]
AkzoNobel Sells it Specialty Chemicals The Carlyle Group and GIC for $12.5 Billion
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 […]