The deal covers the worldwide assets of Lindgens Metal Decorating Coatings and Inks, including its majority stake in the Server Boya joint venture in Turkey.
Akzo Nobel said the move would add to its coating technology and expertise, particularly in the market for inks printed on the outside of two-piece beverage cans. The distinctive feature of this container type is that the ink is roll applied to the exterior of the ready formed can.
As for other market opportunities opened up by the deal, a spokesperson for the company said: “The addition of business in aluminum wine closures provides Akzo Nobel Packaging Coatings with an opportunity to increase our presence in this growing segment.”
Regarding geographic presence, the spokesperson added that the deal would improve the position of the company in key growth markets such as Turkey, Russia, Australia, New Zealand and Tunisia.
Financial details of the deal were not disclosed, but Akzo Nobel said Lindgens, which was established in five years ago, achieved sales of about €25m in 2009.
Giving the perspective of Lindgens on the deal, company chairman Peter Koivula, said: “With the continuing globalization of our marketplace, this strategic deal will help to ensure that all Lindgens and Server Boya customers around the world continue to benefit from the right products, technologies and services both now and in the future.”
Consultations with employee representatives will be held in due course. Closing is expected to take place in the third quarter of this year.