Paint Industry News

Akzo Nobel extends global reach across Ukraine
Akzo Nobel is set to become one of the leading suppliers to the Ukrainian decorative paint market after signing an agreement to acquire a 51 percent controlling share in the coatings activities of Khimrezerv.

Headquartered in Kiev, Khimrezerv�s paint business manufactures and sells waterborne and solvent-borne decorative coatings. Founded in 1993, Khimrezerv began paint production in 1998 and is currently one of the Ukraine�s top five decorative coatings manufacturers, operating a plant in Kirovograd, 350 kilometers from Kiev. Taking a majority stake in Khimrezerv�s coatings activities boosts Akzo Nobel�s market presence in the Ukraine and creates a platform for growth in other areas, particularly the mid-range segment.

The transaction, which is subject to regulatory approvals, is the latest in a series of deals involving Akzo Nobel Decorative Coatings, with acquisition agreements also signed in China, Switzerland and Germany in recent months.

More about Akzo Nobel can be found at www.akzonobel.com.