AkzoNobel Completes Acquisition of Sherwin-Williams’ Chinese Decorative Paints Business
AkzoNobel has completed the acquisition of Sherwin-Williams’ Chinese decorative paints business, including the widely known Chinese Huarun brand.
Decorative Paints
AkzoNobel Takes Sherwin-Williams China Paints Business
AkzoNobel has agreed to buy Sherwin-Williams’ Chinese decorative paints business for an undisclosed sum. The transaction is expected to close in the second half of this year. The business has annual revenues of about €100 million and employs about 300 people.
India’s Grasim Industries to Enter Paints Market
The board of directors at Grasim Industries, part of Indian conglomerate Aditya Birla, has approved the company’s entry into the paints business. It has also given the go-ahead for an initial spend of 50 billion Indian rupees – equating to about $683 million – over the next three years to establish the business, which aims to become a “strong number two player” in the Indian decorative paints market.
