Akzo Nobel is a diversified multinational group of companies with activities in paint, coatings and chemicals. The coatings group includes aerospace and automotive, decorative,industrial, marine and protective and powder coatings. The chemicals group includes industrial,functional, pulp and... More
Friday, Dec 142012, 4:56 AMPPG Industries (PPG) agrees to acquire the North American decorative paints business of Akzo Nobel (AKZOF.PK) for $1.1B. The deal will increase PPG's U.S. market share to an estimated 28% from 15% and boost its challenge to Sherwin-Williams, which holds 36%. PPG may also be buying the unit, which sells the Glidden paint brand and recently became profitable, on the cheap: the price represent 0.7X of sales vs 1X for similar deals in the sector. (PR) |Friday, Dec 142012, 4:56 AM| Comment!