1 November 2018
DETAILS
AkzoNobel has strengthened its business in Asia
by acquiring (100% shares in)
Colourland Paints (Marketing) Sdn Bhd
– both referred to as “Colourland Paints”
– a home-grown paints and coatings manufacturer
with wide distribution across Malaysia.
The acquisition enhances AkzoNobel’s global portfolio
with a much-loved local brand.
It also means the company will be able
to provide an improved customer experience
through an expanded product offering
and distribution network.
The transaction includes all relevant technologies,
patents, trademarks and assets of Colourland.
Financial details were not disclosed.
Thierry Vanlancker
AkzoNobel CEO
“As a leading global paints and coatings company,
we are proud to add the well-established brands
and expertise of Colourland Paints to our business,”
“We are looking forward to unlocking the value
it will bring as we accelerate our Winning together:
15 by 20 strategy and increase our footprint
in this fast-growing region.”
Oscar Wezenbeek,
Managing Director of AkzoNobel Decorative Paints
in the region
“This deal marks another milestone in ensuring that
we continue to deliver
the best brand and customer experience.
The combination of global and local expertise
is also an excellent strategic fit
and will accelerate our development
as we further build on our strong market position
in Malaysia.”
WWW.CHEMWINFO.COM BY KHUN PHICHAI
