Arnhem, the Netherlands, October 27, 2004 – Akzo Nobel Car Refinishes has signed a technology cross-licensing agreement for automotive plastic coatings with Origin Electric Co. Ltd. based in Tokyo. This agreement enhances Akzo Nobel’s access to the Japanese vehicle manufacturing market for the supply of coatings used on plastic car parts, such as dashboards, bumpers and wing mirrors. In return, Origin Electric will benefit from better access to the European market, as well as Akzo Nobel’s state-of-the-art waterborne technologies.
Automotive manufacturers have stringent rules which state that the paint products from their suppliers must have specific technical approval. Origin Electric has acquired this technical approval and the new agreement gives Akzo Nobel access to their particular technology, so opening the door for the company’s automotive plastic coatings to be sold to car makers.
“In Origin Electric we have found a reputable partner with a strong technology base and a long-standing tradition as a supplier to the Japanese automotive industry,” said Rinus Rooseboom, General Manager of Akzo Nobel Car Refinishes. “This technology cross-licensing agreement will benefit both companies and provides a stepping stone into the respective markets for each party.”
Added Rudy van der Meer, Akzo Nobel’s Board Member responsible for Coatings: “This agreement with Origin Electric provides an excellent opportunity to further develop our paint business in the Japanese automotive market. Asia is an area where we are strongly committed to expanding our activities and the agreement we have signed is of major strategic value to the company and the Car Refinishes business.”
The cross-licensing agreement relates to both the Japanese and European markets and includes interior, as well as exterior, plastic coatings technology for the automotive industry.
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