AkzoNobel is to further expand its long-term position in South and Central America after reaching an agreement to acquire Colombia-based paints and coatings company Grupo Orbis. Completion is subject to regulatory approvals and is expected by end of this year, or in early 2022. Financial details were not disclosed.
Present in ten countries in South America, Central America and the Antilles, Grupo Orbis has consolidated revenue of around COP $1.2 billion (€260 million). The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins) and Mundial (distribution and services).
“This is an excellent intended acquisition which aligns perfectly with our Grow & Deliver strategy of creating leading global positions and driving growth in emerging markets,” explains AkzoNobel CEO, Thierry Vanlancker. “It will expand our long-term position across South America by establishing us as a frontrunner in the Andean region and in Central America, where several countries are high on the global growth rankings for the next decade.”
In addition to creating value from global and regional product and service innovation, the intended acquisition will enable AkzoNobel to better serve customers across more geographies, as well as accessing new markets.
Sidel has remotely assisted Nouvelle Brasserie de Guinée (Braguinée) with the tuning of a 1 L bottle line in Guinea. Braguinée is expanding its carbonated soft drink large format production to meet the growing demand for home consumption
Dutch PPE Solutions, a joint venture of VDL Groep and Royal DSM, has been able to produce carbon neutral meltblown fabric. Bornewables PP is made from bio-based feedstock derived entirely from waste and residue streams and has ISCC PLUS certification. Borealis is providing Dutch PPE Solutions with renewable PP from its , supporting them in reducing the climate impact of meltblown production.
The Supervisory Board of Covestro AG has prematurely extended the contract of Board of Management member Sucheta Govil, which runs until July 2022, by three years from August 1, 2022, to July 31, 2025. Govil has been a member of the Management Board of Covestro since August 2019.