AkzoNobel has signed an expanded joint venture agreement with the Yusuf Bin Ahmed Kanoo group of companies in an effort toward growth in the Middle East
The 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 AkzoNobel’s Executive Committee member responsible for Performance Coatings, Leif Darner. “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.”
