AkzoNobel to Acquire France’s Mapaero
In its first acquisition so far this year, AkzoNobel has agreed to buy French aerospace coatings manufacturer Mapaero for an undisclosed sum.
Based in Pamiers, southwestern France, Mapaero specializes in water-based and advanced eco-friendly products. It operates one production plant in France and employs around 140 people.
The Dutch paints and coatings group said the intended acquisition will strengthen its global position in aerospace coatings, notably in structural and cabin coatings, and contribute directly toward delivering its 2020 guidance. The company regards itself as the global leader in aerospace coatings, a market that Thierry Vanlancker, CEO of AkzoNobel, said is growing steadily.
“The transaction will enable us to provide our customers with a much wider portfolio of innovative and sustainable products,” commented Vanlancker. “It also demonstrates our commitment to continue investing in strategic growth opportunities as we progress further with our Winning together: 15 by 20 strategy and will be accretive towards our 15% return on sales target.”
AkzoNobel’s offer is subject to customary information and consultation procedures with employee representatives as well as regulatory approval. The deal is expected to close in the second half of 2019.
The most recent acquisition prior to Mapaero was in December last year when AkzoNobel bought Swire Industrial’s minority interest in AkzoNobel Swire Paints, gaining full ownership of the joint venture.