MOSCOW ( MRC) - Dow has announced plans to expand its global alkoxylation capacity in the US and Europe to meet increasing demand across a wide range of fast-growing end-markets where the company is delivering 10% to 15% annual growth rates, from home and personal care to industrial and institutional cleaning solutions and pharmaceuticals, according to CISION.
#Grupo orbis series
The UK project is the newest in a series of facilities launched by the company intended to advance its product development. The new centre will house 120 specialists and will serve as a major facility within the firm's global R&D network and help to further advance its innovation capabilities, specifically in the decorative paints area. What remains of its operations in the country will be locally operated, according to AkzoNobel chief Thierry Vanlancker.Īlso, AkzoNobel has launched a new GBP 10 M global research and development (R&D) facility at its site in Slough, UK. The company has suspended the bulk of its business in the country in the wake of the Russia-Ukraine war and ensuing EU sanctions.
The deal was first announced in June 2021.ĪkzoNobel expects that its revenues from Russia will drop around 70% from the €210m generated in the country last year in 2022. The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a range of products across 10 countries, thereby "creating several opportunities for revenue synergies”, AkzoNobel said. The deal includes the company’s Pintuco paints and coatings subsidiary, resins business Andercol and Poliquim, and distributor Mundial.
Grupo Orbis has consolidated revenue of around EUR360m, with presence in 10 countries in Central America, South America and the Antilles, according to the statement by AkzoNobel. MOSCOW ( MRC) - AkzoNobel has completed the acquisition of Colombia-based coatings producer Grupo Orbis for an undisclosed fee, the Netherlands-headquartered firm said.
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