"This is a strategic acquisition which will enable us to further penetrate key industrial coatings segments," explained Leif Darner, the AkzoNobel board member responsible for Performance Coatings. "By adding new powder technologies to our extensive portfolio we will be even better equipped to lead the way in meeting the increasing demand for innovative products with strong environmental profiles."
Operating powder coatings factories in the U.S., Europe and China, Rohm & Haas developed several important new technologies—especially for the automotive and architectural segments—while the deal will also add MDF and thermoplastic capabilities to AkzoNobel's existing expertise.
"Our intention is to move towards a more dedicated approach, whereby sites concentrate on specific technologies," added Rob Molenaar, managing director of AkzoNobel Powder Coatings. "These planned manufacturing enhancements and synergies will deliver improved operational efficiency and ultimately enable us to better serve our customers worldwide."
Powder coatings offer an attractive alternative to liquid coatings due to the fact that they are inherently sustainable because they contain no solvents and have application efficiency levels as high as 99 percent. The transaction is expected to close during the second quarter of 2010,