As part of its wood coatings expansion programme Akzo Nobel has bought BASF Coatings’ Wood Construction business (joinery) for an undisclosed sum.
At the same time Akzo Nobel is divesting part of its liquid coatings activities in the agricultural and construction equipment (ACE) division to BASF.
The production of BASF wood construction products, which are mainly used to coat doors and windows in the construction industry, will be transferred from the BASF site in Münster to Akzo Nobel’s decorative coatings site in Cologne, Germany.
Ruby van der Meer, a member of Akzo Nobel’s board of management responsible for coatings, said divestment of the ACE division would help an ambitious growth strategy for the company’s core coatings activities which will require considerable resources.
He added: “Our joinery business has established a strong position in many European markets in recent years through the Sikkens brand and the BASF busines fits in very well with the strategic objectives we have for this market.”
The acquisition follows Akzo Nobel’s recent signing of an agreement to take a major share in German decorative paint distributor, Peters.
