These are exciting times for AkzoNobel. A few months ago, the company announced its intention to create two focused businesses – Paints and Coatings and Specialty Chemicals. Designed to accelerate growth and enhance profitability, we’ve developed a new strategy which will create a more agile company and help us grow faster than our relevant markets.
The recent announcement that we are acquiring UK-based Flexcrete Technologies Ltd and French manufacturer Disa Technology (Disatech) is a clear sign of that strategy in action. The two deals signal our clear intent to step up investment in growth and innovation and continue delivering value for all stakeholders.
In particular, they will strengthen our leading global position in performance coatings – further building on our recent acquisition of BASF’s Industrial Coatings business. Both deals are also significant because they will enable us to expand our existing product and service offering and deliver major benefits to our customers.
To give you some background, Disatech specializes in the manufacture of self-adhesive vinyl, polyester and polycarbonate films used on aircraft, vehicles, agricultural machinery and other equipment. It’s an excellent acquisition which will complement our own position in liquid coatings and films for those markets.
Flexcrete Technologies manufactures products primarily used for the protection and repair of concrete substrates. The deal will allow us to expand our offering in several key industrial markets, including downstream oil and gas and chemical processing, commercial infrastructure, power, water and waste water, and mining and mineral processing.
I’m particularly excited by the new technologies that will be available to us, such as the new decorative film technologies for the aerospace industry developed by Disatech. This will enable us to expand into new markets and adjacent business and explore further opportunities.
What these deals also show is that we are taking part in the consolidation of the market in the right way, by adding value for all stakeholders. And it’s our focus on better serving our customers with essential color and protection that is the driving force.
None of this is entirely new, of course. AkzoNobel has been working towards its newly announced strategy for many years. During that time, we’ve steadily strengthened our market positions and built a Performance Coatings business which can offer a stronger portfolio of essential solutions to our expanded customer base.
Clearly we don’t plan to stand still. We have ambitious targets and we fully intend to achieve them. So keep an eye out for more exciting examples of our new strategy in action.