ARNHEM, The Netherlands – Paint and coatings specialist AkzoNobel has completed its acquisition of the remaining 25% stake in a Turkey based powder coatings specialist.
The company announced recently that it had purchased the remaining stake in Akzo Nobel Boya Sanayi ve Ticaret A.S., a powder coatings joint venture in Turkey. The purchase now gives AkzoNobel full ownership in the company.
The company said the deal with “consolidate AkzoNobel’s strong position in powder coatings in Turkey, one of Europe’s largest powder coatings markets.”
Power coatings are largely used in metal components, including metal components for the furniture industry such as bed frames and tubing and decorative metal beds.
Of the purchase, the company added that “AkzoNobel is committed to further growing its business in Turkey and the surrounding countries that the joint venture has been serving. The company will continue to provide customers throughout the region with world class products, solutions and services.”
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