l Akzo Nobel has taken control of Interpon Powder Coatings (Korea) Co., Ltd. (IPCK), its equal-share joint venture with DPI Co., Ltd. of Korea. IPCK, which manufactures and markets powder products in Ansan-City, near Seoul, reported sales of E19 million in 2002.
The move strengthens Akzo Nobel’s position in the Korean powder market. “Akzo Nobel has been a shareholder in the IPCK business since formation of the joint venture in 1985,” said Rudy van der Meer, member of Akzo Nobel’s board of management and responsible for coatings. “Our increase in ownership to 100% is a clear indication of the company’s commitment to the South Korean paint market.”