The deal, which is expected to close before the end of 2022, will bolster the Dutch group’s performance coatings portfolio.
Lankwitzer’s Rims and Wheel business operates a manufacturing site in Leipzig, Germany. Its products are approved for use by major car manufacturers that include 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 AkzoNobel’s chief commercial officer, performance coatings, Michael Friede. “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.”
By its own account, Lankwitzer has activities at 15 locations worldwide. As well as a manufacturing facility in Leipzig, the business being sold to Akzo also operates a laboratory in the German city and another in Turkey. It also has a growing presence in China.
The proposed transaction follows a series of acquisitions by AkzoNobel during the past two years. These include Grupo Orbis in Latin America, Titan Paints in Spain and Portugal, New Nautical Coatings in the US and last month, the agreed purchase of Kansai Paint’s African paints and coatings activities.
Author: Elaine Burridge, Freelance Journalist
