Netherlands-based AkzoNobel Coatings International B.V. recently announced that it would expand its presence in Latin America after reaching an agreement to acquire Colombian paint and coatings holding company Grupo Orbis and its companies Pintuco (paints), Andercol (chemicals), Poliquim (resins) and Mundial (distribution and services).
“This is an excellent planned acquisition that aligns perfectly with our Grow & Deliver strategy of building leading positions globally and driving growth in emerging markets,” said Thierry Vanlancker, CEO of AkzoNobel.
For his part, the CEO of Grupo Orbis, Andrés Bernal, said that “this agreement represents an important growth opportunity for Grupo Orbis companies. We firmly believe that there are several benefits, such as access to technology and innovation channels. We also find great opportunities for the development of our employees and our customers, who will have access to an expanded and more complete portfolio”.
Based in Amsterdam, AkzoNobel is a Dutch multinational company engaged in the business of paints, coatings, resins and adhesives, among others; it has been in business for over 200 years and is active in more than 150 countries, employing some 33,000 people. The Colombian group is present in ten countries in South America, Central America and the Antilles.
