Akzo Nobel have just acquired the global marine and aerospace coatings divisions of NOF Corporation of Japan. These consist of NOF Europe and US Paint, which generated sales of US$30 million in 2001.
The acquisition was in line with the expansion strategy of the coatings group, which will use the acquisition as an entry point into the above water market in marine coatings. It will also provide a stronger market position for the aerospace coatings product lines.
The general industrial coatings business and production facility in St. Louis Missouri will remain under the control of US Paint. All areas including sales and technical support and that are affected by the acquisition will be moved to Akzo Nobel sites in Europe and the US.