IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Akzo to Buy North American Wood Coating Producer

1:51 PM MDT | June 6, 2007 | Kate Phillips

Akzo Nobel says it has agreed to acquire Chemcraft Holdings (Winston-Salem, NC), the largest privately owned manufacturer of industrial wood coatings in North America. Financial terms were not disclosed. The deal is expected to close in the third quarter. New finish: Akzo continues to invest in coatings. Chemcraft operates nine manufacturing sites in Brazil, Canada, and the U.S., with a workforce of about 500. The firm generated 2006 revenue of $145 million, Akzo says. Chemcraft will become part of Akzo’s Industrial Finishes business (Louisville, KY), which...

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