AkzoNobel acquires coatings business from Korean SSCP

AkzoNobel has today completed its acquisition of the coatings business of Korean SSCP. SSCP has a strong position in the Korean mobile phone market and also supplies coatings to the wider consumer electronics industry.

The transaction was first announced on June 30 this year as part of a larger agreement with SSCP. It included the acquisition of the German-based Schramm, of which SSCP was a 70 percent shareholder. Schramm manufactures coatings for plastics, metals and electrical insulation, as well as coil coatings for aluminum. The joint agreement enables AkzoNobel to strengthen its global leadership position in specialty plastic coatings.

The acquisitions underline the company’s determination to accelerate growth and to build leadership positions across all global markets in line with AkzoNobel’s Value and Values.