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AkzoNobel Formally Acquires Dow Powder Business
AkzoNobel has completed its acquisition of the Dow Chemical Company¡¯s powder coatings activities. The deal was first announced in November last year.
Originally purchased by the Dow Chemical Company in 2009 as part of its acquisition of Rohm and Haas Company, the business brings key technological know-how and significant synergy potential to AkzoNobel¡¯s own Powder Coatings activities. It will also enhance the company¡¯s position in the US.
"We are delighted to be able to begin the integration of Dow Powder Coatings into AkzoNobel," said Rob Molenaar, Managing Director of AkzoNobel Powder Coatings. "We are looking forward to working with our new colleagues and exploring the exciting opportunities this integration offers while ultimately delivering world class products and service to our customers."
The acquired business has global sales of several hundred million dollars and employs around 700 people, operating factories in the United States, Europe and China.
Date Posted: May 19, 2010
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