Saturday, July 8, 2017

AkzoNobel buys UK group Flexcrete Technologies

Leading global paints and coatings company AkzoNobel has acquired the UK-based concrete repair and protection manufacturer Flexcrete Technologies as part of its global expansion strategy.

Founded in Leyland area of Lancashire, UK, in 1983, Flexcrete is a key manufacturer of a wide range of concrete repair mortars, fairing coats, waterproof cementitious coatings and decorative protective coatings.

The company has been working alongside Netherlands-based AkzoNobel since 2010, establishing the Intercrete range of mortars and cementitious coatings which have proven highly successful when used in combination with the established AkzoNobel resin-based coating and lining systems.

As Flexcrete’s original founders, Graham James OBE and Chris Lloyd will continue to manage the existing day-to-day sales, manufacturing and technical operations from its head office and manufacturing complex in Leyland, Lancashire, and all Flexcrete staff have been retained as part of the acquisition, said the statement from the company.

"We are excited about the huge benefits that the acquisition will bring," remarked James.

"Although it will be very much business as usual and contacts will remain the same for our customers, the acquisition will enable us to build on our capabilities as a niche technology provider with the development of new, innovative and sustainable solutions for our target markets," he stated.

According to him, the UK company will benefit enormously from access to AkzoNobel’s technical centre in Felling where over 300 staff focus on R&D related activities and intend to strengthen the Flexcrete brand and increase sales both in the UK and overseas.

"We are already recruiting additional external sales staff to service the demand," he added.

AkzoNobel said it was committed to a long-term presence on the existing Flexcrete site in Leyland.

"This deal generates a number of synergies which will deliver significant benefit to our customers," remarked Mauricio Bannwart, the managing director of AkzoNobel’s Protective Coatings business.

The acquisition of Flexcrete expands AkzoNobel’s manufacturing and innovation footprint in the UK, adding to recently announced investments in the country of around €113 million ($129 million).

AkzoNobel currently employs 3,300 people in its UK business, which generates revenue of around €1 billion ($1.14 billion).

"We are already leaders in protection of metal substrates and the acquisition of Flexcrete aligns perfectly with our existing portfolio of products, allowing us to provide customers with essential concrete and metal protection through one dedicated supplier," he added.

AkzoNobel employs approximately 46,000 people in around 80 countries, with a product portfolio including well-known brands such as Dulux, Sikkens, International, Interpon and Eka.

"The deal also offers us a great opportunity to pursue further coatings innovations in a number of our core markets," he added.-TradeArabia News Service

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