AkzoNobel Completes Acquisition Of Korean SSCP's Coatings Activities

AkzoNobel has completed its acquisition of the coatings business of Korean SSCP. SSCP has a strong position in the Korean mobile phone market and also supplies coatings to the wider consumer electronics industry.

The transaction was first announced on June 30 this year as part of a larger agreement with SSCP. It included the acquisition of the German-based Schramm, of which SSCP was a 70% shareholder. Schramm manufactures coatings for plastics, metals and electrical insulation, as well as coil coatings for aluminum. The joint agreement enables AkzoNobel to strengthen its global leadership position in specialty plastic coatings, the company said in a press release.