AKZO NOBEL N.V. (AKZA; AKZOY)
AkzoNobel has completed the acquisition of the Chinese Decorative Paints business* of Sherwin-Williams. The acquisition will further boost the company's position in China and will allow us further market segmentation and reinforce our position outside of the premium segment.
The business has an annual revenue of approximately €100 million and employs around 300 people. The transaction includes the renowned Huarun decorative paints brand, which has a long history and is well recognized in China.
News of the intended acquisition was first announced in April 2023.
*The Chinese Decorative Paints business is known within Sherwin-Williams as the Chinese Architectural Paint business.
About AkzoNobel
We supply the sustainable and innovative paints and coatings that our customers, communities - and the environment - are increasingly relying on. Our world class portfolio of brands - including Dulux, International, Sikkens and Interpon - is trusted by customers around the globe. We're active in more than 150 countries and have set our sights on becoming the global industry leader. It's what you'd expect from a pioneering paints company that's committed to science-based targets and is taking genuine action to address globally relevant challenges and protect future generations.
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Akzo Nobel NV published this content on 02 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2023 08:58:16 UTC.
