Specialty chemicals and materials firm AkzoNobel made a deal to purchase the remaining 25% stake in a powder coatings joint venture in Turkey, Akzo Nobel Boya Sanayi ve Ticaret A.S., the company announced in a March 6 release. The company held a majority share in the JV prior to the recent transaction.
“Following a successful partnership, the deal will help consolidate AkzoNobel’s strong position in powder coatings in Turkey, one of Europe’s largest powder coatings markets,” the company said in the release.
Akzo Nobel Boya Sanayi ve Ticaret A.S. also produces and distributes powder coatings in eastern Europe and central Asia.
In July 2019, Powder & Bulk Solids reported that AkzoNobel was planning to invest about $3.3 million in three new production lines at its powder coatings production facility in Changzhou, China.