MIDDLETOWN, NJ, July 12, 2007 -- International Protective Coatings, part of the Akzo Nobel coatings group, has strengthened its leading position in the global protective coatings market after completing the acquisition of the worldwide Ceilcote® business from the German-based KCH Group for close to EUR 12 million.
Incorporated into International Protective Coatings, Ceilcote is a major international brand used to coat concrete and steel structures in a wide range of industries including petrochemical and power. Ceilcote specializes in high performance, polymer-based corrosion control solutions for both new construction and maintenance projects.
"The integration of the specialist product lines into the International Protective Coatings offer will help to reduce specification complexity and enable our customers to select all the required protective coatings from one single supplier" explained Grant Russell, Market Director for the International Protective Coatings business. "As part of the world's leading coatings company, this important acquisition will help to consolidate our global presence and enhances our portfolio of high performance coatings and passive fire protection."
Added Steve Miller, General Manager for Ceilcote, "Ceilcote has an enviable track record of providing coating solutions to a range of markets, specifically the power generation industry, but also mining, waste water and chemical processing. The global capability and wealth of experience International Protective Coatings possesses provides a huge opportunity to expand our service offer to these markets."
The Ceilcote product line complements and extends the International Paint portfolio of products for the protection of assets in aggressive chemical environments. Established in Cleveland, Ohio, in the United States in 1926, Ceilcote is a global operation with a regional sales office situated in Singapore. Last year, the company relocated its main manufacturing facility and headquarters to a new facility in Berea, Ohio.
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2006 totaled EUR 13.7 billion. The company currently employs approximately 62,000 people in more than 80 countries.
International Protective Coatings, offer an extensive range of high performance coatings and passive fire protection for the oil, gas, chemical processing, power, paper and pulp, steel infrastructure and mining industries. The offer includes the leading Chartek® brand of passive fire protection.
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