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AkzoNobel has finalised the acquisition of BASF’s global Industrial Coatings business, positioning it as a global coatings provider capable of protecting every part of wind turbines, offering a single source of supply to customers.

The transaction includes all relevant technologies, patents and trademarks, as well as two manufacturing plants in the UK and South Africa. Approximately 400 employees from BASF’s Industrial Coatings business join AkzoNobel. The transaction is based on a deal value of € 475 million, with BASF’s Industrial Coatings business generating revenue close to € 300 million in 2015.

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