The hottest AkzoNobel acquired its China decorativ

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AkzoNobel acquired the full ownership of its China decorative paint joint venture

AkzoNobel acquired the full ownership of its China decorative paint joint venture

December 14, 2018

AkzoNobel announced that it would properly deal with the risks of technical trade measures. The company has signed and completed the acquisition of the non controlling shareholders' equity of Swire Industrial Co., Ltd. in AkzoNobel Swire paint joint venture. Since 1989, AkzoNobel has owned most of the equity of AkzoNobel Swire paint oil joint venture, and has now obtained full ownership of the joint venture (except Guangzhou)

this acquisition will strengthen AkzoNobel's important position in China's decorative paint market, and further enhance its standardized characteristics and business flexibility of using electronic tensile testing machine

Thierry vanlanker, CEO of AkzoNobel, said: "China has always been, and will continue to be, AkzoNobel's strategic growth market. This acquisition provides us with a very ideal opportunity. It will enhance the company's market leadership and drive us to create greater value for the Chinese market. At the same time, this acquisition will help us continue to transform into a company focusing on paint and coatings, which is the key to achieving our strategic goal of 15% return on sales in 2020 Important milestones. "

"we are deeply grateful to Swire Group for its strong support for the cooperation between the two sides in the past 30 years. AkzoNobel Swire paint oil joint venture has a perfect sales channel, strong brand awareness and high innovation ability. We will continue to provide customers with high-quality products and services and continue to move towards success." Said Ruud Joosten, chief operating officer of AkzoNobel

Data line shielding processing

linliangqi, President of AkzoNobel China and managing director of decorative paint business in North Asia, added: "the new milestone has laid a foundation for the company's decorative paint business to further explore the Chinese market. We will further create an industry benchmark around sustainable development to meet the continuously improving quality needs of Chinese consumers."

AkzoNobel Swire paint oil joint venture mainly produces and sells Dulux decorative paint, and has production bases in Guangzhou (the local partner holds another 10% of the joint venture equity), Shanghai, Langfang and Chengdu

about AkzoNobel

AkzoNobel is committed to building a Livable World with high-quality coatings and striving for excellence. Since 1792, our coatings and paints have been continuously inherited from the craftsmanship, and set standards for color and protection. AkzoNobel has a prosperous brand lineup. It has Dulux, international, sikk multi rib structure, which is 10% lighter than the traditional thermosetting resin matrix composite sandwich plate structure; at the same time, ens, interpon and other famous brands, which are widely trusted by customers all over the world. AkzoNobel, headquartered in the Netherlands, has a footprint in more than 150 countries and regions around the world, with about 35000 excellent employees dedicated to providing customers with high-performance products and services

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