Akzo Nobel announced on Friday that it is to expand its chemicals division with the takeover of the German company H.C. Starck and the Chinese firm Jiangsu QiangSheng. No financial details were disclosed.
The German deal is expected to be completed in the second quarter and the Chinese acquisition no later than the third quarter, the company said in a statement.
‘These two transactions underline our strategic commitment to grow our existing portfolio. They will further improve our capability to serve customers in key markets where we already hold strong global positions,’ said Rob Frohn who is head of Akzo Nobel’s speciality chemicals division.
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