AkzoNobel has today announced the acquisition of Leyland based Flexcrete Technologies Ltd, in a deal that will further strengthen its global leadership position in innovative coatings for the industrial sector. AkzoNobel agreed a deal with the UK-based manufacturer, whose products are primarily used for the protection and repair of concrete substrates.
The transaction expands AkzoNobel’s manufacturing and innovation footprint in the UK, adding to the recently announced investments in the country of around €113 million.
The addition of Flexcrete’s concrete coatings complements AkzoNobel’s position in coatings for the protection of metal substrates. This will expand the company’s offering in several key industrial markets, including downstream oil and gas and chemical processing, commercial infrastructure, power, water and waste water, and mining and mineral processing.
“This deal generates a number of synergies which will deliver significant benefit to our customers. We are already leaders in protection of metal substrates and the acquisition of Flexcrete aligns perfectly with our existing portfolio of products, allowing us to provide customers with essential concrete and metal protection through one dedicated supplier,” said Mauricio Bannwart, Managing Director of AkzoNobel’s Protective Coatings business. “The deal also offers us a great opportunity to pursue further coatings innovations in a number of our core markets.”
The acquisition underlines AkzoNobel’s ongoing commitment to invest in the UK and the company’s strategy of investing in organic growth and innovation. AkzoNobel currently employs 3,300 people in its UK business, which generates revenue of around €1 billion. Key investments include a €100 million state-of-the art facility for decorative paints at Ashington, and a €12.6 million research and innovation hub at Felling.