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AkzoNobel strengthened its position in the coating market in sub Saharan Africa through the acquisition of mauvilac

AkzoNobel strengthened its position in the coating market in sub Saharan Africa through the acquisition of mauvilac

on December 13, 2019

AkzoNobel has reached an agreement, Acquisition of 100% shares of mauvilac Industries Limited, a leading paint and coating company in Mauritius

the transaction includes local production facilities, four concept stores and a strong distribution network

with revenue of about 20million euros in 2018, this business unit is a leading manufacturer of decorative and special coatings, headquartered in lesperier, Mauritius. Their product portfolio includes 85% decorative coatings and 15% coatings, providing a variety of professional and consumer product coatings. The company was founded by Roland maurel Sr. in 1964. In july2014, private equity fund adenia acquired 95% of the company's shares

menu prompt Thierry vanlancker, CEO of AkzoNobel (AkzoNobel cooperates with some fire resistance tests), said: "We are pleased to announce the acquisition of mauvilac, because it strengthens our footprint in sub Saharan Africa and supports our leading position in the African decorative coating market. Mauvilac is a leading company in Mauritius and the proud owner of the island's most famous paint brand. We look forward to adding such a strong force to the world-class product portfolio, which is not only an indispensable part of the basic production of a large number of industrial and agricultural products Big brand and welcome mauvilac to AkzoNobel family employees. "

Ruud Joosten, chief operating officer of AkzoNobel, added: "Mauvilac is a true flagship brand in Mauritius, which has been developed for 50 years. The company is a leading company with a strong distribution network, a complete concept store and a large retailer network. Their high attention to innovation and sustainable solutions perfectly matches the attention of AkzoNobel. We are very happy to incorporate such a reputable company into AkzoNobel."

mauvilac CEO Laurent Roussel said: "we are looking forward to joining AkzoNobel. Our two companies are full of enthusiasm for the precision, quality, innovation and sustainable development of the experimental machine to avoid severe vibration. Putting the energy of the two companies together will create a bright future for everyone."

according to convention, the transaction is expected to be completed in the first half of 2020

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