AkzoNobel has announced that it will exercise the right to buy the remaining shares of Metlac, an Italian-based packaging coatings producer. AkzoNobel has been a shareholder in the Packaging Coatings Metlac Group since its acquisition of ICI in 2008. The deal enhances the company’s position in the coatings and inks market for metal packaging.
Leif Darner, executive committee member responsible for Performance Coatings, noted that “This acquisition will reinforce our customer offering and links perfectly with the strategy to strengthen our positions in core markets.”
Completion of the transaction is subject to antitrust approval. The company expects to finalize the acquisition in the second quarter of 2012. Financial details were not disclosed.
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