We strongly believe there are several benefits, such as access to technology and innovation pipelines. We’ll be able to access highly complementary geographical positions in several new countries in the Andean, Central America and Antilles regions, including Colombia, which is the third largest in the region.”Ĭommenting on the deal, CEO of Grupo Orbis, Andres Bernal, says: “This agreement represents an important growth opportunity for Orbis Group’s companies. “It will expand our long-term position across South America by establishing us as a frontrunner in the Andean region and in Central America, where several countries are high on the global growth rankings for the next decade.”Īdds Daniel Campos, the company’s Regional Director for South America: “It’s an historic opportunity which offers attractive growth potential across both paints and coatings. “This is an excellent intended acquisition which aligns perfectly with our Grow & Deliver strategy of creating leading global positions and driving growth in emerging markets,” explains AkzoNobel CEO, Thierry Vanlancker. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins) and Mundial (distribution and services). Present in ten countries in South America, Central America and the Antilles, Grupo Orbis has consolidated revenue of around COP $1,200 billion (€260 million). Completion is subject to regulatory approvals and is expected by end of this year, or in early 2022. AkzoNobel is to further expand its long-term position in South and Central America after reaching an agreement to acquire Colombia-based paints and coatings company Grupo Orbis.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |