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AkzoNobel Takes Control of Coatings Producer

7:11 AM MST | January 9, 2012 | Ian Young

AkzoNobel says it plans to become sole owner of Metlac Group (Bosco Marengo, Italy), a producer of coatings for metal packaging, by purchasing the shares it does not own in Metlac. The deal is expected to close in the second quarter of 2012. AkzoNobel's current stake in Metlac, and the value of the transaction, were not disclosed. AkzoNobel obtained its stake in Metlac through the acquisition of the former ICI in 2008. Becoming 100% owner of Metlac is in line with AkzoNobel's strategy to expand its coating and inks business for metal packaging, the company...

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