AkzoNobel recently announced that it plans to buy the remaining shares of Metlac, an Italy-based packaging coatings producer. AkzoNobel currently is a shareholder in the Packaging Coatings Metlac Group, a position inherited from its acquisition of ICI in 2008. The combination of the two companies will reportedly bring value to customers by leveraging the AkzoNobel global footprint and the product range of Metlac.
“This acquisition will reinforce our customer offering and links perfectly with the strategy to strengthen our positions in core markets,” said Leif Darner, executive committee member responsible for Performance Coatings.
Completion of the transaction is subject to antitrust approval. The company expects to finalize the acquisition in the second quarter.
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