AkzoNobel Takes Full Ownership of Powder Coatings Joint Venture in Türkiye

Akzo Nobel N.V. has completed the acquisition of the remaining 25% stake in AkzoNobel Boya Sanayi ve Ticaret A.Ş., Turkey's leading powder coatings joint venture. The company now holds full ownership of the joint venture, which it previously controlled with a majority stake. Following a successful partnership with the Altan Family, the agreement signed will strengthen AkzoNobel's position in the powder coatings sector in Turkey, one of Europe's largest powder coatings markets. The joint venture manufactures and distributes powder coatings in Turkey as well as in Eastern Europe and Central Asia. AkzoNobel is committed to further expanding its operations in Turkey and the surrounding countries served by the joint venture. As one of Europe's largest powder coatings markets, the company will continue to provide first-class products, solutions and services to customers across the region. The agreement does not affect the joint venture with the Altan Family in AkzoNobel Kemipol A.Ş., in which AkzoNobel holds a majority stake. AkzoNobel Kemipol A.Ş. distributes a broad range of products including coil coatings, automotive refinish coatings, wood coatings and specialty plastic coatings.