AkzoNobel plans to strengthen its position in packaging
coatings by exercising the right to buy the remaining shares
of Metlac, an Italian based packaging coatings producer.
Financial details were not disclosed.
AkzoNobel currently is a shareholder in the Packaging
Coatings Metlac Group. This position was inherited from the
acquisition of ICI in 2008. The deal underlines the company's
strong commitment to supporting the coatings and inks market
for metal packaging by securing the future of a well
recognized supplier.
The combination of the two companies will bring value to its
customers by leveraging the AkzoNobel global footprint and
the product range of Metlac.
"This acquisition will reinforce our customer offering
and links perfectly with the strategy to strengthen our
positions in core markets", said Leif Darner, Executive
Committee member responsible for Performance Coatings.
The completion of the transaction is subject to antitrust
approval. The company expects to finalize the acquisition in
Q2 2012.
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