More news
- Asian paint regulatory round up – Indonesian exterior paint still uses lead, warns W...
- Nigeria’s paint industry navigates regulatory changes and economic challenges amid p...
- Focus on the global coatings market: Global coatings market outlook
- Ask Joe Powder – October 2024
- Chinese paint majors look to domestic consumer sales as commercial real estate slumps
AkzoNobel and Kansai Paint have mutually agreed not to proceed with the company’s intended acquisition of Kansai’s paints and coatings activities in Africa.
Commenting on the decision, AkzoNobel CEO, Greg Poux-Guillaume (pictured), says: “It’s disappointing that this intended acquisition cannot move forward, but we remain committed to our strong businesses and leading brands in Africa.
“As AkzoNobel’s performance rebound gathers pace, we’ll remain focused on our key priorities, including the strengthening of our balance sheet, which will be accelerated.”
The two companies have agreed that no break-up fee will be involved.
READ MORE:
Market report: Energy crisis dominates South African industry but long-term outlook is positive
