Amsterdam, the Netherlands -- AkzoNobel has completed its acquisition of the coatings business of Korean SSCP. SSCP has a strong position in the Korean mobile phone market and also supplies coatings to the wider consumer electronics industry, the Dutch company said in a 2 Dec announcement.
The transaction was first announced on 30 June this year as part of a larger agreement with SSCP. It included the acquisition of the German-based Schramm, of which SSCP was a 70 percent shareholder. Both SSCP and Schamm supply polyurethane and other plastic coatings.
AkzoNobel said the joint agreement enables it to strengthen its global leadership position in speciality plastic coatings.