AkzoNobel acquires Colourland Coatings business

Abstract: AkzoNobel (AN) recently announced the acquisition of Malaysian paint and coatings manufacturer Coloural Coatings to strengthen its presence in Asia, but did not disclose financial terms.
AkzoNobel (AN) recently announced that it has acquired the Colourand coatings business of Malaysian paint and coatings manufacturer to strengthen its presence in Asia but has not disclosed its financial terms.
According to reports, the transaction includes all relevant technologies, patents, trademarks and assets of Colourland. Colourland is headquartered in Johor Bahru, Malaysia, with an annual turnover of more than 80 million Malaysian Ringgit (approximately US$19 million).
Speaking of the acquisition, Akzo Nobel CEO Fan Dirui said: “We are honored to integrate the famous brand and expertise of Colourland Coatings into our business and look forward to releasing it as we accelerate our win-win situation. The value brought by it increases the footprint in this fast-growing region."