AkzoNobel acquired V.Powdertech Coatings

Thailand V. Powdertech, a powder coating manufacturer that offers a range of products for home appliances, furniture and general industrial applications, currently employs more than 250 people and has a leading position in the industry in Thailand. AkzoNobel today agreed to acquire V .Powdertech.

The acquisition will bring new technologies and services to AkzoNobel to add to market segments such as construction and automotive coatings to promote a global technology portfolio and increase business expansion. Acquisitions include technology, patents, trade marks and manufacturing facilities in Samut Sakhon, Thailand. In addition, V.Powdertech employees will join AkzoNobel by using their products and market expertise, to serve a growing market in the region.

This acquisition will ensure Akzo Nobel's position as Southeast Asia's largest manufacturer of powder coatings and V. Powdertech's state-of-the-art production equipment will also create additional value for it to secure its pace in the rapidly growing market area of ??Southeast Asia, Regional profit growth to provide a firm basis.

The acquisition is expected to be completed next week.

                                     By Hank