Jul 19 2010
AkzoNobel has today agreed to acquire the worldwide assets of Swedish-based company Lindgens Metal Decorating Coatings and Inks, including its majority stake in the Server Boya joint venture in Turkey. Financial details were not disclosed.
The deal will add technology and expertise to AkzoNobel’s own Packaging Coatings activities, particularly in the market for inks printed on the outside of two-piece metal packaging.
“This is an excellent acquisition which boosts our capability and is perfectly in line with our growth strategy,” explained Leif Darner, the AkzoNobel Board member responsible for Performance Coatings. “It will strengthen our position in metal packaging decoration and enhance our presence in important markets such as Russia, Turkey and Australia.”
Conrad Keijzer, Managing Director of AkzoNobel’s Industrial Coatings business, added: “As well as reinforcing our position in metal packaging, this transaction will also enable us to offer a number of unique technologies and support our customers with a comprehensive inks and coatings portfolio.”
Consultations with employee representatives will be held as and when appropriate. Closing is expected to take place in the third quarter of this year.
Said Peter Koivula, Chairman of Lindgens Group: “With the continuing globalization of our marketplace, this strategic deal will help to ensure that all Lindgens and Server Boya customers around the world continue to benefit from the right products, technologies and services both now and in the future."