In its first acquisition this year, AkzoNobel has agreed to acquire French aerospace coatings maker Mapaero, but the amount of the acquisition was not disclosed.
Mapaero is headquartered in Palmier, southwestern France, and specializes in water-based and advanced environmentally friendly products. Its production facility in France has approximately 140 employees.
Dutch Paint and Coatings Group said that the acquisition will strengthen its global position in aviation coatings, especially in the areas of structural and cabin coatings, and directly contribute to the achievement of the 2020 target. The company sees itself as a global leader in aerospace coatings, and AkzoNobel CEO Thierry Vanlancker said the market is growing steadily.
Vanlancker commented: "Through this transaction, we are able to offer our customers a broader portfolio of innovative and sustainable products. This is also in line with our commitment to continue to invest in strategic growth in a win-win: 15 to 20 strategy. And, this The transaction will further add 15% to our sales target. "
AkzoNobel's acquisition will depend on general information obtained from the employee's office, consulting information, and regulatory approval. The transaction is expected to be completed in the second half of 2019.
AkzoNobel's last acquisition occurred in December last year when it acquired Swire Industries' minority stake in AkzoNobel Swire Coatings and acquired full ownership of the joint venture.