26 July 2016
DETAILS
AkzoNobel has raised its stake in
Akzo Nobel Powder Coatings SAE
in Egypt from 60 percent to 100 percent.
The transaction forms part of
the company's accelerated growth strategy
for Egypt and the wider North Africa region.
As well as operating
a state-of-the-art powder coatings plant in Cairo,
Akzo Nobel Powder Coatings SAE also has
a 90 percent stake in the trading firm
Akzo Nobel Powder Coatings Trading SAE.
Financial details of the deal were not disclosed.
AkzoNobel is in the process of strengthening
its footprint across
the Middle East and North Africa region,
having recently announced new joint ventures
in UAE, Qatar and Oman, and
recording double digit growth in the region.
The company also opened
a new powder coatings plant
to add to the $10 million facility opened
in Dubai in 2014.
Powder coatings are widely used
in the buildings and infrastructure sector, as well as
for pipelines in the oil and gas industry.
The company’s powder products can also be found
on Dubai Metro stations and at Smart Village in Egypt.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
