Arnhem, the Netherlands, April 20, 2007 - Akzo Nobel has strengthened its leading position in the global protective coatings market after signing an agreement to acquire the worldwide Ceilcote business from the German-based KCH Group for close to EUR 12 million.
A major international brand used to coat concrete and steel structures - particularly in the petrochemical and power industries - Ceilcote specializes in high performance, polymer-based corrosion control solutions for both new construction and maintenance projects.
"This deal underlines our strong commitment to delivering on Akzo Nobel's ambitious growth strategy," explained CEO Hans Wijers, who is also the Board member responsible for Coatings. "As the world's leading coatings company, we are always looking to explore significant expansion opportunities in both mature and emerging markets and this is an important acquisition which will further enhance our portfolio and consolidate our global presence."
Added Bill McPherson, General Manager of Akzo Nobel's Marine & Protective Coatings business: "Ceilcote has an enviable track record of providing coatings solutions to a range of markets, specifically the power generation industry, but also mining, wastewater and chemical processing, and we have long recognized the need to fully service these markets. The Ceilcote product line is a welcome addition which will both complement and extend our International Paint portfolio of products for the protection of assets in aggressive chemical environments."
Established in Cleveland, Ohio, in the United States in 1926, Ceilcote - which employees 36 people - is a global operation, with a regional sales office situated in Singapore. Last year, the company relocated its main manufacturing facility and headquarters to a new facility in Berea, Ohio.
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Note for the editor
Akzo Nobel is a Fortune Global 500 company and is listed on both the Euronext Amsterdam and NASDAQ stock exchanges. It is also included on the Dow Jones Sustainability Indexes and FTSE4Good Index. Based in the Netherlands, we are a multicultural organization serving customers throughout the world with human and animal healthcare products, coatings, and chemicals. We employ around 61,880 people and conduct our activities in these four segments, with operating subsidiaries in more than 80 countries. Consolidated revenues for 2006 totaled EUR 13.7 billion. The financial results for the first quarter will be published on April 24, 2007.
Internet: www.akzonobel.com
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Akzo Nobel nv
Corporate Media Relations, tel. +31 26 366 43 43
Contact: Tim van der Zanden
