AkzoNobel recently announced that it will bolster its performance coatings portfolio after reaching an agreement to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. Subject to regulatory approvals, completion is expected before the end of 2022.
Lankwitzer’s Rims and Wheel business operates out of a manufacturing site in Leipzig, Germany. Its products are approved for use by car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault. In addition to the Leipzig facility, Lankwitzer’s wheel coatings business operates laboratories in Germany (Leipzig) and Türkiye.
“Acquiring this attractive business will complement our existing powder coatings portfolio and expand the range of innovative products we supply,” said Michael Friede, AkzoNobel’s chief commercial officer for Performance Coatings. “We’ll be able to provide a comprehensive liquid and powder aluminum wheel coating offering to customers, becoming a one-stop-shop for the wheels industry, which will significantly reinforce our position in an important automotive market.”
According to Leo Rokeach, Ph.D., Lankwitzer’s managing director, “We’re immensely proud of the business we’ve built here at Lankwitzer Leipzig. It’s now time to let our people and clients benefit from a global environment, which AkzoNobel undoubtedly offers. Being part of AkzoNobel’s worldwide activities will offer attractive growth prospects for the Leipzig site and its employees.”