More news
- New Managing Director of BASF’s Coatings division
- Global New Material International (GNMI) to acquire Merck’s Surface Solutions busine...
- Delta Coatings unveils plans for global eco-friendly HQ and plant
- PPG recognised for sustainability progress by FTSE4Good for sixth consecutive year
- ChemQuest expands Business Development team, names four VPs
AkzoNobel and Kansai Paint have mutually agreed not to proceed with the company’s intended acquisition of Kansai’s paints and coatings activities in Africa.
Commenting on the decision, AkzoNobel CEO, Greg Poux-Guillaume (pictured), says: “It’s disappointing that this intended acquisition cannot move forward, but we remain committed to our strong businesses and leading brands in Africa.
“As AkzoNobel’s performance rebound gathers pace, we’ll remain focused on our key priorities, including the strengthening of our balance sheet, which will be accelerated.”
The two companies have agreed that no break-up fee will be involved.
READ MORE:
Market report: Energy crisis dominates South African industry but long-term outlook is positive
