AkzoNobel, a manufacturer of paints, coatings and specialty chemicals, has planned to purchase Schramm Holding and SSCP’s coating activities. The acquisition will reinforce AkzoNobel’s global leadership status in the specialty plastic coatings market.
Schramm, headquartered in Germany, manufactures and distributes coating for electrical insulation, metals and plastics applications, while SSCP is a Korean-based firm that distributes coatings to the consumer electronics industry and is a largest shareholder of Schramm.
The Executive Committee member of AkzoNobel’s Performance Coatings, Leif Darner stated that the deal provides a great opportunity for the company to enhance its industrial coatings activities, mainly in Asia.
The acquisition will support AkzoNobel’s growth as the global specialty plastic coatings leader and will enable the company to better serve the consumer electronics industry. It will also help decrease raw materials and operational expenditures. In addition, AkzoNobel has signed a deal with SSCP to acquire carved-out coatings business in Korea.