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Azonobel will strengthen its performance coatings portfolio after reaching an agreement for the Lankwitzer Lackfabrik GmbH rubber liquid coating business.
Azonobel will strengthen its performance coverage portfolio after reaching an agreement to acquire the Lankwitzer Lackfabrik GmbH Wells liquid coating business. Completion, subject to regulatory approval, is expected before the end of 2022.
The Lancaster Reims and Will business is based in Leipzig, Germany. The products are licensed for use by car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Reno.
“Our acquisition of this attractive business will complement the existing powder coating portfolio and expand our innovative products,” explains Michael Freed, CEO of Exxonball – Performance Coverage. “We can provide our customers with a wide range of liquid and powder aluminum tires, as a one-stop shop for the Welsh Industry, which will greatly strengthen our position in the vital automotive market.”
The proposed agreement is another clear sign that the company will continue to grow well in terms of its strategic objectives.
Commenting on the purchase idea, Dr. Leo Rocach, Managing Director of Lancashire, said: Now is the time for us, our people and our customers, to benefit from the global reach of Akzo Nobel. Participating in Axel Nobel’s international operations offers exciting growth opportunities for the Leipzig station and its staff.
The Leipzig facility, the Lancashire Wheel Cover business – which is growing in China – operates in Leipzig, Germany and Turkish laboratories.
The proposed deal follows a series of acquisitions by Axonobel over the past two years, including Group Orbis in Latin America, Spain and Portugal, Titan Color in the United States, and more recently in Africa. Cancer paint and coating activities
Source: Axonobel
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