(PRESS RELEASE) AMSTERDAM, 18-Jul-2019 — /EuropaWire/ — AkzoNobel to acquire French aerospace coatings manufacturer Mapaero. The intended acquisition will strengthen AkzoNobel’s global position in aerospace coatings and contribute directly towards delivering the company’s 2020 guidance.
Mapaero was established in 1992, the company specialises in sustainable water-based and advanced eco-friendly products. Mapaero has around 140 employees and operates a production facility in France.
AkzoNobel CEO, Thierry Vanlancker, commented: “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.”
“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.”
“AkzoNobel’s offer is an exciting opportunity. Our activities are complementary to those of AkzoNobel and we are ideally placed to help further improve their existing portfolio and service levels. There’s clearly a strong match in the combination,” said Eric Rumeau, President and CEO of Mapaero.
The transaction is expected to be completed in the second half of 2019 following customary information and consultation procedures with Mapaero’s employee representative bodies and regulatory approvals of AkzoNobel’s offer.
A global leader in aerospace coatings, AkzoNobel offers high performance products and technologies for aircraft worldwide. For more information, visit www.aerospace.akzonobel.com
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SOURCE: Akzo Nobel N.V.