The multinational AkzoNobel announced the purchase of a division of Titan Industries. In this way, the Folch-Rusiñol family has divested itself of the decorative paints business. The divestment process in the decorative paints business began with the purchase of 90% of the shares held by Industrias Titan, which owned a division that had several plants located in different parts of the country.
The popular Titanlux brand will be taken over by the Dutch multinational, which has not disclosed the amount of the transaction but is clear that it is only awaiting authorization from the regulators. Now, this operation raises some questions about the impact on the workforce due to possible duplication of production.
Akzo denied the existence of such duplication and praised the synergies of the operation.. “About duplication, there really isn’t one. We are in the same market, each with its own distinct positioning, with similar products, but without duplication.” they said. It is currently undergoing an ambitious expansion process and diversifying production. To this end, two years ago it acquired Xylazel, the wood paint division of Zeltia (now Pharmamar) for 21.8 million euros.
Titan Industries was founded in 1917 and generates annual revenues of 80 million euros, 425 employees and 8 logistics centers. Titanlux is one of its most recognized brands. The Catalan company has 425 employees, 8 logistics and service centers and three production plants located in Barcelona, Las Palmas and Maia (Portugal).
AzkoNobel has a worldwide workforce of 33,000 employees in 150 countries. In Spain it has three production plants, in the Zona Franca of Barcelona (where Titanlux is also located) and in two other facilities in the province: in Vallirana and in Vilafranca de Penedès.
