Akzo Nobel to Acquire V.Powdertech Business in Thailand

Akzo Nobel NV (AKZA.AE) said Monday that it is acquiring V.Powdertech Co. Ltd., a Thai manufacturer of powder coatings, for an undisclosed amount.

The Netherlands-based paint and chemicals company said that the acquisition will bring in new technology and services that complement its global-technology portfolio and business.

The deal includes all relevant technologies, patents and trademarks, Akzo Nobel said, as well as V.Powdertech's manufacturing plant.

The Thai company's employees will also be joining Akzo Nobel.

Akzo Nobel said that it expects the transaction to be completed in the coming weeks.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

November 27, 2017 02:31 ET (07:31 GMT)