Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Akzo Nobel N.V. M&A Activity 2007

Apr 20, 2007

3806_iss_2007-04-20_95115a2f-cba4-44fe-8673-d93c678a02a4.pdf

M&A Activity

Open in viewer

Opens in your device viewer

Akzo Nobel strengthens protective coatings portfolio

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, polymerbased 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.


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

Not for publication – for more information Akzo Nobel nv Corporate Media Relations, tel. +31 26 366 43 43 Contact: Tim van der Zanden

Akzo Nobel nv Velperweg 76 P.O. Box 9300 6800 SB Arnhem The Netherlands Tel +31 26 366 43 43 Fax +31 26 366 49 40

Safe Harbor Statement*

This press release may contain statements which address such key issues as Akzo Nobel's growth strategy, future financial results, market positions, product development, pharmaceutical products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, progress of drug development, clinical testing and regulatory approval, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission, a copy of which can be found on the company's corporate website www.akzonobel.com. The 2006 Annual Report on Form 20-F will be available in the second quarter of 2007.

* Pursuant to the U.S. Private Securities Litigation Reform Act 1995.