AkzoNobel Buys UK, French Coatings Firms
AkzoNobel has acquired the UK’s Flexcrete Technologies and has also announced an agreement to buy French manufacturer Disa Technology (Disatech) in a bid to further strengthen its coatings business. Financial terms of the two transactions were not revealed.
Based in Leyland, Lancashire, Flexcrete makes products that are primarily used to protect and repair concrete substrates. AkzoNobel said the acquisition will expand its offering in several key industrial markets, including oil & gas and chemical processing, commercial infrastructure, power, water and wastewater, mining and mineral processing.
Disatech supplies adhesive films for the aerospace, transportation and industrial equipment sectors and is the leader in aerospace technical marking systems. The Limoges-headquartered company specializes in the manufacture of self-adhesive vinyl, polyester and polycarbonate films used in aircraft, vehicles, agricultural machinery and other equipment.
Amsterdam-based AkzoNobel said the acquisition, which is subject to regulatory approvals, will add new technologies and services that complement its existing portfolio of coatings and films for the aerospace and transport sectors.
Commenting on both agreements, AkzoNobel CEO, Ton Büchner, said: “Both acquisitions support our strategy of investing in growth and innovation and are strongly aligned with our growth strategy. These deals also offer us great opportunities to pursue further coatings innovations in a number of our core markets.”
Under plans announced in April, and following PPG’s failed takeover attempt, the Dutch group is now focused on building up its Paints and Coatings business and preparing to spin off its Specialty Chemicals business within the next 12 months.