Akzo Nobel to acquire Ceilcote for €12m

20 April 2007 09:17  [Source: ICIS news]

MUMBAI (ICIS news)--Akzo Nobel had agreed to acquire the worldwide Ceilcote polymer-based corrsosion control products business from the German-based KCH Group for about €12m ($16m), the Dutch coating and chemicals group said on Friday.

Ceilcote products are used to coat concrete and steel structures, particularly in the petrochemical and power industries.

“The Ceilcote product line is a welcome addition which will both complement and extend our international paint portfolio of products for the protection of assets in aggressive chemical environments," Bill McPherson, general manager of Akzo Nobel's marine & protective coatings business, said.

Ceilcote is headquartered in Berea, Ohio and employs 36 people

($1 = €0.74)

By: Isha Jha
+65 6780 4359

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