AkzoNobel acquires Sweden-based Lindgens' global assets

15 July 2010 08:32  [Source: ICIS news]

SINGAPORE (ICIS news)--AkzoNobel has agreed to acquire the global assets of Sweden-based Lindgens' metal decorating coatings and inks business, including its majority stake in the Server Boya joint venture in Turkey, the Dutch coatings, paints and specialty chemicals company said on Thursday.

AkzoNobel said the deal, expected to be completed in the third quarter of this year, would help supplement its own packaging coating business, especially in the market for inks printed on metal packaging.

The company did not disclose financial details of the acquisition.

"It will strengthen our position in metal packaging decoration and enhance our presence in important markets such as Russia, Turkey and Australia," said Leif Darner, the AkzoNobel board member responsible for the group’s performance coatings business.

Lindgens was established in 2005 and achieved about €25m in sales last year, according to AkzoNobel. The company manufactures and markets system solutions of coatings and inks for the metal packaging industry.

Lindgens acquired a major stake in Turkey-based metal decorating supplier Server Boya in 2007, according to its website.

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By: Nurluqman Suratman

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