Latest:Akzonobel in agreement to acquire Lankwitzer Lackfabrik GmbH's liquid coatings business for wheels will strengthen its portfolio of high-performance coatings. Completion is expected by the end of 2022, subject to regulatory approval.

Lankwitzer's rim and wheel business operates from a production site in Leipzig, Germany. Its products are approved for use by car manufacturers such as Daimler, Audi, Volkswagen, Opel, Fiat and Renault.

"Acquiring this attractive business will complement our existing powder coatings portfolio and expand the range of innovative products we offer." Akzonobel Chief Commercial Officer - Performance Coatings Michael Friede explained, “We will be able to offer our customers a comprehensive range of liquid and powder aluminum wheel coatings, becoming a one-stop shop for the wheel industry, which will significantly strengthen our position in the important automotive market.”

The deal of interest is also another clear sign that the company continues to make good progress on its strategic ambitions, he added. This is a good match with our "Grow and Deliver" "The strategies are fully aligned and will allow us to enter a new area of ​​the market with exciting opportunities.

Leo, Managing Director, Lankwitzer Commenting on the acquisition proposal, Dr. Rokeach said: "We are extremely proud of the business we have built in Leipzig. Now is the time for our employees and customers to benefit from a global environment that Akzonobel certainly offers. Becoming a Part of AkzoNobel's global activities will offer attractive development prospects for the Leipzig site and its employees."

In addition to the factory in Leipzig, Lankwitzer's wheel coatings business - with a growing presence in China - has laboratories in Germany (Leipzig) and Turkey.

The deal follows a series of acquisitions by Akzonobel over the past two years, including Grupo Orbis in Latin America, Titan Paints in Spain and Portugal, New Nautical Coatings and the recent proposed acquisition of Kansai Paint's African Paints and Coatings business.