Akzo Targets Middle East as Valspar Tests European Market Share
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Akzo Nobel NV, the world’s biggest paint maker, is looking to quadruple sales in the Middle East to about $1 billion as its European volumes are threatened by dwindling demand and rivals such as the U.S.’s Valspar Corp.
The Dutch company is accelerating expansion in the Middle East after concluding that it was under-represented there 18 months ago, Regional Director Peter Tomlinson said in an interview with Bloomberg News. The maker of Dulux paint a week ago announced a deal to expand a joint venture with Bahrain-based Yusuf Bin Ahmed Kanoo to distribute more products.