AkzoNobel to Acquired BASF’s Coatings Business

Germany: AkzoNoble, a Netherlands based company, has planned to buy the industrial coatings business of BASF for USD530.7 million. The transaction is expected to be completed by the end of 2016. AkzoNoble, which has been offering paints and coatings along with specialty chemicals, is expected to acquire BASF’s two manufacturing plants located at Deeside in England, and Vanderbijlpark in South Africa. In addition, the acquisition would also include technologies, patents and trademarks associated with the industrial coatings business of BASF.

TechSci Research depicts that this acquisition would enable AkzoNoble to expand its product portfolio for various end users including coil, furniture foil and panel coatings, together with coatings for wind energy plants, general industry and commercial transport that would strengthen AkzoNoble’s performance in the coatings business across the globe.

According to TechSci Research report “GCC Construction Chemicals Market By Type (Concrete Admixtures, Waterproofing, Protective Coatings, Adhesives, etc.), By End User, Competition Forecast and Opportunities, 2011 – 2021 – Saudi Arabia, UAE, Qatar, Kuwait, Oman & Bahrain”, the construction chemicals market in the GCC countries is projected to grow at a CAGR of over 7% during 2016 - 2021, due to rising government spending on construction projects coupled with increasing participation by private players in the real estate sector.