AkzoNobel delivers complete wind turbine coating capability following acquisition

15.12.2016

AkzoNobel has finalized the acquisition of BASF’s global Industrial Coatings business, positioning it as the leading coatings provider capable of protecting every part of wind turbines, offering a single source of supply to customers in this fast growing segment.

The transaction includes all relevant technologies, patents and trademarks, as well as two manufacturing plants in the United Kingdom and South Africa. Approximately 400 employees from BASF’s Industrial Coatings business join AkzoNobel, bringing expertise to innovate and better serve an expanded customer base worldwide.

Mauricio Bannwart, Managing Director of Protective Coatings at AkzoNobel, said: “We are delighted to be able to expand our offer to the wind energy market. As well as combining a wealth of knowledge on erosion and corrosion, we can now provide customers with a significant reduction of complexity in both product and supply chain management.”

The transaction is based on a deal value of €475 million, with BASF’s Industrial Coatings business generating revenue close to €300 million in 2015.

“We are pleased to welcome our new colleagues to AkzoNobel” said Conrad Keijzer, the company’s Executive Committee member responsible for Performance Coatings. “This business is an excellent strategic fit and will strengthen our leading market positions, particularly in the coil, protective and wood coatings sectors in Europe. We will be able to offer new products and maintenance solutions – such as protective coatings for wind turbine blades – and service a broader customer base to drive growth.”

Source: AkzoNobel