AkzoNobel, Axalta Mulling ‘Merger of Equals’

AkzoNobel, Axalta Mulling ‘Merger of Equals’

AkzoNobel and Axalta Coating Systems confirmed that the companies are engaged in “constructive discussions” regarding a merger of AkzoNobel’s Paints & Coatings unit with Axalta.

 

Two majors players in the automotive refinish space are considering a “merger of equals.”

AkzoNobel and Axalta Coating Systems confirmed that the companies are engaged in “constructive discussions” regarding a merger of AkzoNobel’s Paints & Coatings unit with Axalta.

“This will create a leading global paints and coatings company through a merger of equals,” Amsterdam-based AkzoNobel said in a news release.

Philadelphia-based Axalta said the company will pursue the merger “only if its board of directors determines that it is in the best interest of Axalta to do so.”

“There can be no assurances that a definitive agreement between the parties will be reached or on what terms,” the company added.

AkzoNobel noted that the separation of its Specialty Chemicals business unit, “including the return of the vast majority of net proceeds to shareholders, remains on track for April 2018 and is unaffected by the discussions.”

You May Also Like

BASF Partners with INEOS Automotive on Global Body and Paint Program

INEOS Automotive and BASF’s Coatings division have signed an agreement on global automotive refinish body and paint development.

INEOS Automotive and BASF’s Coatings division have signed an agreement on global automotive refinish body and paint development. The partners will commit to a long-term strategic collaboration that enables them to exceed the industry standard in vehicle body repair and paint refinish. The partnership includes the supply of sustainable refinish solutions, expertise and latest digital color-matching solutions and training.

The Digital Blitz

We talk so much about how much collision repair is changing, but so is the world of media!

Auto Body Shops: Building a Foundation for the New Year

For the new year, it’s important to conduct a thorough audit of your finances to look for areas of opportunity and things to change.

Auto Body Consolidation Update: There’s a New Buyer in Town

The good news for shops that want to sell but do not fit a consolidator’s
profile is that there is a fresh pool of new buyers.

Is Your Auto Body Shop a Hobby … or a Business?

So you want to provide safe and properly repair vehicles to your customers … even at a financial loss?

Other Posts

HD Repair Forum Announces Dates and Location for Technical Training

The HD Repair Forum will be hosting technical training April 26-27, 2024 at the Hyatt Regency in Frisco, Texas.

Nebraska MSO Acquires Speidell Body Works

Eustis Body Shop has announced the addition of Speidell Body Works into its family of body shops throughout Nebraska.

WIN Announces Speakers, Programs for 2024 Conference

The conference, which this year is themed “Dream Out Loud,” will celebrate women in the collision repair industry.

AkzoNobel Announces Automotive & Specialty Coatings Leadership Changes

John Griffin, Dan Carranza and Dustin Warren have all seen changes to their roles in Automotive & Specialty Coatings and U.S. Vehicle Refinishes Sales.