ARNHEM, The Netherlands, June 11, 2002 (PRIMEZONE) -- Akzo Nobel (Nasdaq:AKZOY) has signed a contract with Plascon U.K. to acquire its United Kingdom and Republic of Ireland specialty paint businesses. The company produces high performance paints for a range of decorative and protective needs, under the International(R) brand. Plascon U.K. posted total sales in the United Kingdom and Republic of Ireland of EUR 13 million in 2001.
"From a strategic point of view, this acquisition fits perfectly into Akzo Nobel Coatings' expansion strategy," said Rudy van der Meer, member of Akzo Nobel's Board of Management responsible for Coatings. "It has provided the United Kingdom and Irish activities of our business unit, Decorative Coatings Europe, with an excellent springboard to enter and participate in a traditionally functional section of the decorative market where the International brand has great authority."
Leif Abildgaard, General Manager of the business unit Decorative Coatings Europe added: "The International name is not only synonymous with problem-solving products such as anti-damp paint and anti-burglar paint, but also with creative and ground-breaking color palettes. Hence, the brand will fit in seamlessly as color is also the flagship element of our brands Crown(R) and Sandtex(R). "The acquisition will also benefit our customer base due to a combined logistics service and key account management."
All 24 employees will transfer to Akzo Nobel.
Note for the editor
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2001 totaled EUR 14 billion. The Company currently employs over 66,000 people in 80 countries. Financial results for the second quarter will be published on July 24, 2002.
Internet: www.akzonobel.com
For more information please contact: Akzo Nobel N.V. Leif Abildgaard, Akzo Nobel Decorative Coatings Europe, +31 71 308 3371
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