AkzoNobel announces Thai acquisition

AkzoNobel says it has agreed a deal to buy Thai powder coatings specialist V.Powdertech.

V.Powdertech employs 250 people and makes power coatings for appliances and furniture. AkzoNobel says the deal will be concluded in the coming weeks.

Ruud Joosten, chief operating officer of paints and coatings, said, ‘This business is an excellent strategic fit. We will be able to offer a broader range of products and services to more customers and target new growth segments.’