Posted in | News | Coatings and Thin Films | Non-Ferrous Alloys and Metals | Precious Metal

Akzo Nobel to Divest Mirror Coatings Business to Fenzi

Apr 28 2004

Akzo Nobel today announced its intention to divest the Company’s mirror coatings business to the Italian Group Fenzi. Akzo Nobel expects the transaction to be concluded in the second quarter of 2004.

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The mirror coatings business, which is based in Vilvoorde, Belgium, produces paints that are applied to the backs of mirrors to protect the silver lining which makes up the reflective surface. The business had sales of over EUR 7 million in 2003.

“Within Coatings we have been moving towards a more consistent portfolio of core global businesses over the last couple of years,” explained Rudy van der Meer, Member of Akzo Nobel’s Board of Management responsible for Coatings. “Although mirror coatings has performed admirably and continues to grow, it is no longer considered to be part of our strategic framework. We have therefore decided to find an owner who is committed to growing the business, thereby opening up new opportunities in the market.”

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