On November 1, AkzoNobel acquired 100% of Colourland Paints Sdn Bhd and Colourland Paints (Marketing) Sdn Bhd. Both companies are known as "Colourland Paints", a local paint and coatings manufacturer widely distributed in Malaysia, strengthening its presence in Asia.
The acquisition strengthens AkzoNobel's global asset portfolio and makes it a popular local brand. This also means that AkzoNobel will be able to provide a better customer experience by expanding its product supply and distribution network. Financial details were not disclosed.
"As a leading global coatings company, we are excited to incorporate the Colourland coatings brand and expertise into our business." AkzoNobel CEO Thierry Vanlancker said, "We look forward to releasing it Value as we accelerate the pace of common success: 15 by 20 strategy and increase our business in this fast-growing region. "
Oscar Wezenbeek, Managing Director, AkzoNobel Decorative Coatings Asia Pacific, added: "This transaction marks another milestone in our commitment to ensuring continued delivery of the best brand and customer experience. Global and local The combination of expertise is also a very good strategic fit, which will accelerate our development as we further consolidate our strong market position in Malaysia. "
The transaction includes all relevant technology, patents, trademarks and assets of Colourland.