AkzoNobel, a global manufacturer of paints and coatings, has recently announced its intent to acquire French aerospace coatings manufacturer Mapaero. This acquisition will strengthen AkzoNobel’s global position in aerospace coatings, in the structural and cabin coating sub-segments, and contribute towards delivering the company’s 2020 guidance.

 

Mapaero, established in 1992, specialises in sustainable water-based and advanced eco-friendly products, has a production facility located at France with around 140 employees.Thierry Vanlancker, AkzoNobel CEO said, “The world class product ranges from both companies have an excellent fit and by combining our expertise we’ll be able to strengthen our global position in the steadily growing aerospace coatings market. This transaction will enable us to provide our customers with a much wider portfolio of innovative and sustainable products. It also demonstrates our commitment to continue investing in strategic growth opportunities as we progress further with our winning together: 15 by 20 strategy and will be accretive towards our 15 per cent return on sales target.”

 

Eric Rumeau, President & CEO, Mapaero, expressed, “AkzoNobel’s offer is an exciting opportunity. Our activities are complementary to those of AkzoNobel and we are ideally placed to help further improve their existing portfolio and service levels. There’s clearly a strong match in the combination.”

 

AkzoNobel’s offer is subject to customary information and consultation procedures with Mapaero’s employee representative bodies and regulatory approvals. The transaction is expected to be completed in the second half of 2019.