AKZO NOBEL EXPANDS
CHINESE COATINGS ACTIVITIES
Akzo Nobel has reinforced its commitment
to becoming China’s top coatings
company by signing an agreement to
acquire the coatings activities of
Guangzhou Toide Manufacturing Co.
Currently ranked as one of the biggest
private Chinese manufacturers of
emulsion paint, Toide Paint is also
active in the wood varnishes sector.
Based in Guangzhou, the company
commands a strong market position in
southern China, with more than 200
outlets and distributors. It also has a
solid presence around Beijing and
Shanghai.
“This agreement is a clear indication
of our ambition to become the number
one coatings company in China,” said
Akzo Nobel CEO, Hans Wijers. “We are
making a concerted effort to grow our
decorative coatings operation and this
investment will substantially increase
our volumes of emulsion paint, the
fastest growing segment on the Chinese
paint market.