AkzoNobel Powder Coatings acquires South African JV with Freeworld Coatings
August 6, 2012
AkzoNobel Powder Coatings strengthened its position in Africa by acquiring 100 percent of a powder coatings joint venture in South Africa. After more than 40 years working together, Akzo Nobel Powder Coatings South Africa (Pty) Ltd and Freeworld Coatings, through its Plascon subsidiary, concluded participation in the original joint venture. The deal comes on the back of Freeworld Coatings' acquisition by Kansai, and underlines AkzoNobel's commitment to developing business in the African continent. "This acquisition highlights our confidence in this important market, and South Africa is strategically well located for us to continue and to expand on the excellent work we are doing in Africa," said AB Ghosh, AkzoNobel Powder Coatings managing director commented.
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