AkzoNobel (Troy, Mich., USA), the world's largest supplier of paints and coatings, announced on Sept. 11 that it is acquiring Soliant LLC (Lancaster, S.C., USA), a manufacturer of decorative paint and bright films. Subject to regulatory approvals, the acquisition is expected to be completed by end September 2008.
Soliant's eco-friendly coatings alternatives are used primarily in the automotive market. The acquisition, says AkzoNobel, will improve the global AkzoNobel Automotive Plastics Coatings position with a combined liquid and film product line, and provide AkzoNobel customers with sustainable solutions that maximize performance, color accuracy and cost management.According to Jim Rees, general manager for AkzoNobel Car Refinishes, "The acquisition of Soliant LLC affirms our position of investing in 'green' technologies that offer substantial and sustainable growth potential. This addition to our portfolio is about developing a new approach to our markets. It creates a strong platform for future growth based on the broader concepts of decoration and not simply painting."
Soliant was established in 2002 as a management buyout from former owner Rexam PLC. It operates a manufacturing facility in Lancaster, S.C. (USA), employing approximately 100 employees. With its Fluorex product line, Soliant LLC is a global leader in decorative solutions involving paint films and bright films.