AkzoNobel recently announced its intention to acquire France-based Mapaero, a manufacturer of aerospace coatings. According to AkzoNobel, the intended acquisition will strengthen its global position in aerospace coatings, notably in the structural and cabin coating sub-segments, and contribute directly toward delivering the company’s 2020 guidance. Established in 1992 and specializing in sustainable water-based and advanced eco-friendly products, Mapaero operates a production facility in France and has around 140 employees.

“The world class product ranges from both companies have an excellent fit and by combining our expertise we’ll be able to strengthen our global position in the steadily growing aerospace coatings market,” said Thierry Vanlancker, CEO of AkzoNobel. “The transaction will enable us to provide our customers with a much wider portfolio of innovative and sustainable products. It also demonstrates our commitment to continue investing in strategic growth opportunities as we progress further with our Winning together: 15 by 20 strategy and will be accretive towards our 15% return on sales target.”