AkzoNobel buys BASF India's industrial coatings business

AkzoNobel India has acquired the industrial coatings business of BASF India Ltd for Rs 11.17 crores. This follows the closure of global acquisition of BASF's industrial coatings business by AkzoNobel, which was first announced in February this year. “The industrial coating business of the company would stand transferred to AkzoNobel India Ltd with effect from December 14, 2016. The company has received an aggregate sum of Rs 11.17 crores from AkzoNobel India toward the consideration for the sale of the said business,” stated BASF India in a press statement.

BASF's global industrial coatings business supplies a range of products for industries including construction, domestic appliances, wind energy and commercial transport.

Globally, the transaction includes relevant technologies, patents and trademarks, as well as two manufacturing plants in the UK and South Africa. Approximately 400 employees from BASF's industrial coatings business join AkzoNobel, bringing expertise to innovate and serve an expanded customer base worldwide.