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AkzoNobel Deco Grows in India, Mideast

Thursday, November 14, 2013

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AkzoNobel is expanding its decorative paints footprint in both the Middle East and India, with a new joint venture agreement and a new production facility.

In the Middle East, the Dutch paint and coatings maker has announced the acquisition of a 50 percent stake and management control of Sadolin Paints Oman SAOC, which employs about 150 people.

Meanwhile, the company has opened a new Dulux decorative paints facility in India, designed to cement its presence as a "a leading coatings powerhouse in India."

Middle East JV

The Sadolin Paints deal involves a joint venture agreement between AkzoNobel and Omar Zawawi Establishment LLC, the promoter and shareholder of Sadolin Paints, to manufacture and sell decorative paints and performance coatings in Oman.

Financial details were not disclosed.

AkzoNobel Middle East
Photos: AkzoNobel

AkzoNobel has acquired a 50 percent stake in Sadolin Paints through a JV with its promoter and shareholder.

"This agreement forms part of AkzoNobel's growth plans for the Middle East," Conrad Keijzer, the Executive Committee member responsible for Performance Coatings, said in a press release.

"Bringing our decorative paints and performance coatings expertise under one roof in Oman will provide a strong platform to support our customers in this increasingly important market."

'Well Placed'

Peter Tomlinson, Managing Director of AkzoNobel in the Middle East, added: "With governments investing more into construction, local production is becoming increasingly important. Our paints and coatings activities in Oman will now be well placed to effectively supply customers in the construction, transportation and oil and gas sectors."

Dr. Omar Zawawi, chairman of the Omzest Group, said the group would remain a significant shareholder and would appoint three members to the joint venture's Board of Management.

"We are delighted with this agreement, which enhances Sadolin Paints' profile in the market and provides access to leading-edge technology," Zawawi said. "In addition, it will open up new markets which could not have been developed by Sadolin as an independent company."

AkzoNobel says it will also make investments to support the enlarged business portfolio across the Middle East region while leveraging Sadolin's existing reputation and network.

India: 'Coatings Powerhouse'

The new Dulux plant in Gwalior is AkzoNobel's sixth manufacturing facility in India, where the company employs about 1,800 people.

AkzoNobel - Gwalior, India

The new Dulux plant is AkzoNobel's sixth manufacturing site in India.

“India plays an extremely important role in our growth strategy and the new Gwalior site underlines our commitment to creating a leading coatings powerhouse in India," said AkzoNobel CEO Ton Büchner.

“As a global leader in sustainability, I’m also pleased that the plant has focused so heavily on energy, water and resource conservation, which will be vital in helping us to create more value from fewer resources.”

Added Amit Jain, Managing Director of AkzoNobel India: “The Gwalior plant will provide cost-effective access to key markets in the northern and central areas of India. This will greatly reinforce our strategy of expanding Dulux distribution, as well as improving customer service in these high-growth regions.”

Special sustainability features include rainwater harvesting and energy efficient pumping systems, while 20 percent of the roofing area allows natural daylight to flood in, reducing the need for artificial lighting.

   

Tagged categories: Acquisitions; AkzoNobel; Architectural coatings; Dulux

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