AkzoNobel is about to acquire Mapaero, the French aerospace coatings manufacturer and the acquisition is said to strengthen to global position of AkzoNobel in aerospace coatings market, notably in the structural and cabin coating sub-segments, and contribute directly towards delivering the company’s 2020 guidance.
Specialised in sustainable water-based and advanced eco-friendly products, Mapaero operates a production facility in France and has around 140 employees.
Thierry Vanlancker, AkzoNobel CEO said, “The world class product ranges from both companies have an excellent fit and by combining our expertise we’ll be able to strengthen our global position in the steadily growing aerospace coatings market.”
“The transaction will enable us to provide our customers with a much wider portfolio of innovative and sustainable products. It also demonstrates our commitment to continue investing in strategic growth opportunities as we progress further with our Winning together: 15 by 20 strategy and will be accretive towards our 15% return on sales target.”
Eric Rumeau, President and CEO of Mapaero, added: “AkzoNobel’s offer is an exciting opportunity. Our activities are complementary to those of AkzoNobel and we are ideally placed to help further improve their existing portfolio and service levels. There’s clearly a strong match in the combination.”
The offer of AkzoNobel is subject to customary information and consultation procedures with employee representative bodies and regulatory approvals of Mapaero. The transaction is expected to be completed in the second half of 2019.