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Éric Descarries
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Akzonobel and Axalta Join Forces to Create a Finishing Industry Giant
Éric Descarries
Hits: 594
Global finishing leaders AkzoNobel and Axalta have announced a joint agreement that will make them a worldwide leader in the paint and finishing sector. The new company is expected to generate US$17 billion in revenue, with a valuation estimated at US$25 billion.
The announcement was made on November 18 to combine the two companies under a single listing on the New York Stock Exchange. Despite the merger, the new organization will have two headquarters: one in Amsterdam, Netherlands, and the other in Philadelphia, United States. The board of directors will be jointly led by Rakesh Sachdev, current Axalta CEO, and Greg Poux-Guillaume, president of AkzoNobel.
The goal of this merger is to strengthen financial performance and enhance innovation capabilities while providing superior products to customers in more than 160 countries.
(Photos: AkzoNobel and Axalta)
Éric Descarries
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