AkzoNobel has reached an agreement to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. The acquisition, which is subject to regulatory approvals, is expected to close before the end of 2022.
Lankwitzer’s wheel business is based in Leipzig, Germany. According to the company, Lankwitzer products are used by car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault.
“Acquiring this attractive business will complement our existing powder coatings portfolio and expand the range of innovative products we supply,” says Michael Friede, AkzoNobel chief commercial officer, Performance Coatings. “We’ll be able to provide a comprehensive liquid and powder aluminum wheel coating offering to customers, becoming a one-stop shop for the wheels industry, which will significantly reinforce our position in an important automotive market.”
This is the latest in series of acquisitions by AkzoNobel over the past two years, including Grupo Orbis in Latin America, Titan Paints in Spain and Portugal, New Nautical Coatings in the United States, and the recently announced intended acquisition of the African paints and coatings activities of Kansai Paint.
The post AkzoNobel to Acquire Lankwitzer Lackfabrik Wheel Liquid Coatings Business appeared first on American Coatings Association.
from American Coatings Association https://www.paint.org/akzonobel-to-acquire-lankwitzer-lackfabriks-liquid-coatings-business/
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