Akzo Nobel Globalizes Aerospace Coatings Business.Business Editors ARNHEM, The Netherlands--(BUSINESS WIRE)--July 31, 2000 Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. (Nasdaq:AKZOY) moves into a leading global position in Aerospace Coatings with an agreement to acquire the coatings business of Dexter Corporation, USA, today. The acquisition will effectively double the size of Akzo Nobel's Aerospace Coatings business and additionally strengthen its position in the Transportation and Specialty Coatings sectors in the USA. "Aerospace Coatings is a high value-added, rapidly growing sector within Akzo Nobel Coatings. The acquisition has considerably strengthened our position in Aerospace Coatings worldwide, which is clearly in line with our strategic ambition for this business," said Rudy van der Meer Van der Meer is a Dutch surname that simply means the phrase 'from the lake' in English. Many years ago, descendants would have lived from a lake in the Netherlands which is how the name first originated. , Member of Akzo Nobel's Board of Management responsible for Coatings. The combination of the Aerospace Coatings activities of Akzo Nobel and Dexter is a natural merger between two parties that have much in common. It will strengthen Akzo Nobel's global lead in maintenance and add a strong global position in Aerospace OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and Coatings. In addition it will reinforce Akzo Nobel's technology and production base. "The transaction will substantially improve our representation in the USA and provide us with a lasting global position with a state-of-the-art product portfolio qualified by the worlds leading aircraft producers," added Goran Jonsson, Business Unit Manager Industrial Coatings An industrial coating is a paint or coating defined by its protective, rather than its aesthetic properties, although it can provide both. The most common use of industrial coatings is for corrosion control of steel or concrete. . The Coatings activities of Dexter, mainly aerospace, include production and R&D facilities in Waukegan, Ill., Brownsville, Texas Brownsville is the county seat of Cameron County, Texas, United States, the southernmost city in Texas. As of 2005, U.S. Census estimates put Brownsville at a population of 167,493. , and Bassano, Italy. The turnover in 1999 amounted to some USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 47 million involving about 200 employees. The transaction is subject to approval from the regulatory authorities. NOTE FOR THE EDITORS About Akzo Nobel Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, and chemicals. Consolidated sales for 1999 (excluding Acordis) totaled some EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 12 billion (USD 13 billion, GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 8 billion). At the beginning of 2000, the Company employed 68,000 people in 75 countries. Financial results for the third quarter of 2000 will be announced on Oct. 25, 2000. Akzo Nobel is a world leading producer of coatings, with strong market positions in decorative/architectural paints, car refinishes, liquid and powder coatings for industrial use (on wood, plastics and metal), marine & yacht coatings, protective coatings, aerospace coatings, printing inks, industrial and consumer adhesives, and impregnated im·preg·nate tr.v. im·preg·nat·ed, im·preg·nat·ing, im·preg·nates 1. To make pregnant; inseminate. 2. To fertilize (an ovum, for example). 3. papers. Akzo Nobel Coatings' 1999 sales were EUR 5.5 billion (USD 6 billion, GBP 3.5 billion). Internet: http://www.akzonobel.com About Dexter Corporation Dexter Corporation is a global specialty materials supplier with three operating segments: life sciences, nonwovens, and specialty polymers. The company supplies specialty materials to the aerospace, electronics, food packaging, and medical markets. Internet: http://www.dexter.com |
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