The acquisition of Lankwitzer’s wheel coatings business will allow AkzoNobel to expand its performance coatings portfolio.
AkzoNobel
has recently announced that it has reached an agreement for the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, in order to expand its performance coatings portfolio. The completion of the deal is subject to regulatory approvals and is expected before the end of 2022.
The products of the Rims and Wheels division of Lankwitzer, manufactured in the production site in Lepizig (Germany), are approved for use by car several cars manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault. In addition, the wheel coatings business has a growing presence in China and operates laboratories in Germany and also in Türkiye.
“Acquiring this attractive business will complement our existing powder coatings portfolio and expand the range of innovative products we supply. We’ll be able to provide a comprehensive liquid and powder aluminium wheel coating offering to customers, becoming a one-stop-shop for the wheels industry, which will significantly reinforce our position in an important automotive market,” has stated Michael Friede, the Chief Commercial Officer - Performance Coatings of AkzoNobel. “It’s a great match which aligns perfectly with our Grow & Deliver strategy and will give us access to new sectors of a market with exciting opportunities.”
“We’re immensely proud of the business we’ve built here at Lankwitzer Leipzig. It’s now time to let our people and clients benefit from a global environment, which AkzoNobel undoubtedly offers. Being part of AkzoNobel's worldwide activities will offer attractive growth prospects for the Leipzig site and its employees,” has commented Leo Rokeach, the managing director of Lankwitzer.
The intended acquisition represents another step of the growth strategy of AkzoNobel: over the last two years, the company has carried out several other acquisitions across the paints and coatings industry, including Titan Paints in Spain and Portugal, New Nautical Coatings in the U.S.A., Grupo Orbis in Latin America and also the African paints and coatings activities of Kansai Paint.