AkzoNobel expanding Middle East operations

AkzoNobel expanding Middle East operations 
AMSTERDAM, NETHERLANDS -- (Marketwire) -- 11/30/12 --  AkzoNobel has
underlined its growth ambitions for the Middle East after signing an
expanded joint venture agreement with the Yusuf Bin Ahmed Kanoo group
of companies. 
The new deal strengthens the existing joint venture between AkzoNobel
and Kanoo,
which only covers the supply of the company's International
Paint brand, along
with coil and packaging coatings. Under the terms
of the expanded agreement,
AkzoNobel will offer products from across
its Performance Coatings portfolio,
including professional woodcare,
automotive refinish, marine, yacht, fire protection, protective and
powder coatings. 
"We are very pleased to build on our long-standing relationship with
the Kanoo
family by signing this agreement," said Leif Darner,
AkzoNobel's Executive Committee member responsible for Performance
Coatings. "It will give us a firm
foothold in the Middle East and a
solid platform from which to deliver on our
ambitious growth strategy
in the region. We see many opportunities for our products and
services to supply the construction, oil and gas and
transportation
sectors in the Middle East and this deal will ensure
that we are better placed
to serve our customers." 
Mishal Kanoo, Deputy Chairman for Kanoo in the UAE and Oman, added:
"Our relationship with AkzoNobel goes back over 30 years and we look
forward to supporting the company in its ambition to be a leading
supplier of performance
coatings in both the UAE and Saudi Arabia." 
AkzoNobel currently employs more than 200 people across its two main
plants in
the Middle East. Both sites are planning increased
investments to support the
enlarged business portfolio, with work on
a new powder coatings facility in Dubai having already started. 
AkzoNobel is the largest global paints and coatings company and a
major producer
of specialty chemicals. We supply industries and
consumers worldwide with innovative products and are passionate about
developing sustainable answers for
our customers. Our portfolio
includes well known brands such as Dulux, Sikkens,
International and
Eka. Headquartered in Amsterdam, the Netherlands, we are consistently
ranked as one of the leaders in the area of sustainability.
With
operations in more than 80 countries, our 55,000 people around
the world are
committed to excellence and delivering Tomorrow's
Answers Today(TM). 
Not for publication - for more information 
Pdf file AkzoNobel press release: 
http://hugin.info/130660/R/1661531/538351.pdf 
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Source: Akzo Nobel NV via Thomson Reuters ONE 
[HUG#1661531] 
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