Enviroline is a specialist supplier of high performance, corrosion-resistant linings predominantly in the oil and gas industries, specializing in both new construction and maintenance projects. The deal includes the transfer of goodwill, intellectual property and employees.
"This acquisition highlights the company's strategy of consolidating our leading market positions and investing in growth opportunities," said Leif Darner, AkzoNobel's board member responsible for performance coatings. "We are already a major supplier to the oil and gas sector and this transaction will expand our capabilities in an important global market."
"Enviroline has an enviable track record of providing high performance coatings solutions, mainly to customers in the oil and gas markets in North America," added Bill McPherson, general manager of AkzoNobel's marine and protective coatings business. "We have long recognized the need to fully service these markets. The Enviroline product range is therefore a welcome addition which will both complement and extend our International Paint global portfolio of products for the protection of assets in aggressive environments."
As well as supplying leading brands for specialist tank linings for chemical storage vessels, Enviroline also provides corrosion control for steel and concrete structures. One of their most recent product launches was a thin-film VOC compliant fast cure epoxy coating for the oil and gas and chemical processing industries.