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AkzoNobel Acquires Malaysia Paint Company

Monday, November 5, 2018

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Global coatings firm AkzoNobel (Amsterdam) announced late last week that it has acquired Colourland Paints, based in Johor, Malaysia.

The company says that the acquisition strengthens its business in Asia and enhances its global portfolio with a local brand, allowing the company to provide an improved customer experience through an expanded product offering and distribution network.

AkzoNobel

Global coatings firm AkzoNobel (Amsterdam) announced late last week that it has acquired Colourland Paints, based in Johor, Malaysia.

Financial terms of the deal were not disclosed.

"As a leading global paints and coatings company, we are proud to add the well-established brands and expertise of Colourland Paints to our business," said AkzoNobel CEO Thierry Vanlancker.

"We are looking forward to unlocking the value it will bring as we accelerate our Winning Together: 15 by 20 strategy and increase our footprint in this fast-growing region."

The Colourland acquisition is just the latest move in AkzoNobel’s quest to expand further into the Asia market.

In May, the company opened a new powder coatings production plant in Changzhou, China.

The plant—which Akzo calls a “40 million euro investment”—will supply a range of Interpon and Resicoat products to meet the growing demand for sustainabile products, the company says, in key markets such as automotive, architectural and general industrial sectors.

The company has made several moves in the region within the past few years, including an acquisition in November 2017 of V.Powdertech Co. Ltd., a manufacturer of powder coatings for consumer products in Thailand; and the opening of a $11.7 million powder coatings facility in Chengdu, China, in January 2017.

   

Tagged categories: Acquisitions; AkzoNobel; Business matters

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