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Markets :: Specialty Chemicals :: Paints and Coatings

AkzoNobel acquires 50% stake in Oman paints company

1:49 AM MDT | October 31, 2013 | Deepti Ramesh

AkzoNobel says it has acquired a 50% stake and management control of Sadolin Paints Oman (Muscat). Financial details of the deal have not been disclosed. AkzoNobel has signed a joint venture agreement with Omar Zawawi Establishment (Omzest; Muscat), the promoter and shareholder of Sadolin Paints, for the manufacture and sale of decorative paints and performance coatings in Oman. “With governments investing more into construction, local production is becoming increasingly important. Our paints and coatings activities in Oman will now be well placed to...

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