In an agreement announced Nov. 13, Akzo Nobel N.V. (Amsterdam, Netherlands; www.akzonobel.com) will acquire the powder coatings activities of Dow Chemical Co. (Midland, Mich.; www.dow.com).
Financial details of the transaction, which is expected to close during the second quarter of 2010, were not immediately disclosed.
Dow had purchased the powder coatings business earlier this year as part of its acquisition of Rohm & Haas Co. (Philadelphia, Pa.; www.rohmhaas.com).
The former Rohm and Haas powder coatings business achieves global sales in the range of several hundred million dollars annually and employs 700 people. It operates powder coatings facilities in the U.S., China and Europe.