Akzo Nobel NV
AMS : AKZA

December 02, 2011 02:17 ET

AkzoNobel completes acquisition of Korean SSCP's coatings activities

AMSTERDAM, THE NETHERLANDS--(Marketwire - Dec 2, 2011) - AkzoNobel has today completed its acquisition of the coatings business of Korean SSCP. SSCP has a strong position in the Korean mobile phone market and also supplies coatings to the wider consumer electronics industry.

The transaction was first announced on June 30 this year as part of a larger agreement with SSCP. It included the acquisition of the German-based Schramm, of which SSCP was a 70 percent shareholder. Schramm manufactures coatings for plastics, metals and electrical insulation, as well as coil coatings for aluminum. The joint agreement enables AkzoNobel to strengthen its global leadership position in specialty plastic coatings.

The acquisitions underline the company's determination to accelerate growth and to build leadership positions across all global markets in line with AkzoNobel's Value and Values strategy.

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AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are a Global Fortune 500 company and are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today™.

Note to editors - not for publication

Pdf file AkzoNobel press release: http://hugin.info/130660/R/1568362/487417.pdf

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Source: Akzo Nobel NV via Thomson Reuters ONE

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