AkzoNobel is to bolster its performance coatings portfolio after reaching an agreement to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. Completion, which is subject to regulatory approvals, is expected before the end of 2022.
Lankwitzer’s Rims and Wheel business operates out of a manufacturing site in Leipzig, Germany. Its products are approved for use by car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault.
“Acquiring this attractive business will complement our existing powder coatings portfolio and expand the range of innovative products we supply,” said Michael Friede, AkzoNobel’s Chief Commercial Officer – Performance Coatings. “We’ll be able to provide a comprehensive liquid and powder aluminum 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.” He added that the intended deal is also another clear sign that the company is continuing to make good progress with its strategic ambitions: “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.”
Commenting on the proposed acquisition, Dr. Leo Rokeach, Lankwitzer Managing Director, said: “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.”
As well as the Leipzig facility, Lankwitzer’s wheel coatings business – which has a growing presence in China – operates laboratories in Germany (Leipzig) and Türkiye.
The intended transaction follows on from a series of recent acquisitions by AkzoNobel over the last two years, including Grupo Orbis in Latin America, Titan Paints in Spain and Portugal, New Nautical Coatings in the US and, most recently, the intended acquisition of the African paints and coatings activities of Kansai Paint.