Akzo Nobel has strengthened its position in the global protective coatings market after signing an agreement to acquire the worldwide Ceilcote business from the German-based KCH Group for close to €12 million.
A major international brand used to coat concrete and steel structures—particularly in the petrochemical and power industries—Ceilcote specializes in high performance, polymer-based corrosion control solutions for both new construction and maintenance projects.
"This deal underlines our strong commitment to delivering on Akzo Nobel's ambitious growth strategy," explained CEO Hans Wijers, who is also the board member responsible for coatings. "As the world's leading coatings company, we are always looking to explore significant expansion opportunities in both mature and emerging markets and this is an important acquisition which will further enhance our portfolio and consolidate our global presence."
"Ceilcote has an enviable track record of providing coatings solutions to a range of markets, specifically the power generation industry, but also mining, wastewater and chemical processing, and we have long recognized the need to fully service these markets," added Bill McPherson, general manager of Akzo Nobel's marine and protective coatings business. "The Ceilcote product line is a welcome addition which will both complement and extend our International Paint portfolio of products for the protection of assets in aggressive chemical environments."
Established in Cleveland, Ohio, in the U.S. in 1926, Ceilcote, which employees 36 people, is a global operation, with a regional sales office situated in Singapore. Last year, the company relocated its main manufacturing facility and headquarters to a new facility in Berea, OH.