(hydrocarbonprocessing) -- 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 company said on Friday.
The new deal strengthens the existing joint venture between AkzoNobel and Kanoo, which only covered the supply of the company's International Paint brand, along with coil and packaging coatings.
Under the terms of the new 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 remind that the company also plans to expand production of corrosion-resistant coatings for the aerospace industry in Turkey by absorbing smaller enterprises, as MRC reported ealier. The company is going to double its annual sales in the country up to EUR300 million during the next five years, producing annually 160 thousand tonnes of coatings.
MRC