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AkzoNobel N.V. to acquire Indian arm's powder coatings business
Source AkzoNobel N.V (opens in a new tab)Business Standard (opens in a new tab)BSE Announcement (opens in a new tab)
Amsterdam-headquartered paint business AkzoNobel N.V has acquired its Indian arm's powder coatings business and International Research Centre (R&D) for INR 2073 crore and INR 70 crore, respectively. The revenue of the powder coating business unit for FY24 was INR 421.3 Cr.The acquisition will enable Akzo Nobel India to focus on its liquid paints and coatings business and become a fully brand-and-technology-independent company for its core decorative paints business.AkzoNobel N.V. is also in the process of selling its decorative paints business in India, which has attracted interest from Blackstone, Pidilite, and JSW Paints.