Akzo Nobel and CCC Joint Venture creates Market Leading Non-Stick Coatings company

Akzo Nobel and CCC Joint Venture creates Market Leading Non-Stick Coatings company Arnhem, the Netherlands, December 7, 1998 - Akzo Nobel has entered into a worldwide joint venture with Coatings and Chemicals Corp. ("CCC"), to i manufacture and sell liquid and powder non-stick coatings . The new entity, which will be named Akzo Nobel Non-Stick Coatings, combines the non-stick coatings activities of CCC and Akzo Nobel. The company will be owned 80% by Akzo Nobel and 20% by CCC. Financial terms were not disclosed. "In line with our strategy of focused growth, Akzo Nobel is building a stronger position in the growing Non-stick coatings market," said Göran Jönsson, General Manager of Akzo Nobel Industrial Coatings. "With the CCC joint venture, we become a notable international presence in this global niche." CCC is the second largest supplier of non-stick coatings to the US market. Akzo Nobel is very well established in the European market, particularly in Italy. Both companies have a significant market share in the Far East. Combining the two, Akzo Nobel will become the second largest supplier of non-stick coatings worldwide. Independently, the companies have made significant advances in non- stick coating technology, and hold numerous patents in Europe and the US. Worldwide headquarters for the joint venture will be in Des Plaines, IL, USA, at CCC's main facility and previous headquarters. In addition to this site, Akzo Nobel Non-Stick Coatings will operate manufacturing facilities at Akzo Nobel's plant in Fombio, Italy and CCC's facility in Ahmedabad, India. Kanti Gandhi, owner of CCC, will be President of the joint venture. "As the non-stick coatings market continues to evolve and grow, our clients around the globe will increasingly demand better products and quicker service. This joint venture will provide a perfect platform to meet these needs on a technical, commercial and geographical level", says Gandhi. Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals and fibers. The company currently employs some 87.500 people in more than 60 countries. Consolidated sales for 1997 totaled NLG 24.1 billion (USD 12 billion / GBP 7.5 billion, EURO 10.8 billion). The Coatings activities represented NLG 8.4 billion (USD 4.2 billion), or 35% of total sales. Akzo Nobel is a world leading producer of paints, finishes, stains and synthetic resins for industrial applications, professional painters, and the do-it-yourself sector. - - - Internet: http://www.akzonobel.com http://www.cc-corp.com Non-stick Coatings are mainly used in the cookware, appliance, and industrial markets and serve to avoid adherence of objects to coated surfaces. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/12/08/19981208BIT00050/bit0001.doc

Subscribe

Documents & Links