Paris - Axson has formed a new group, uniting BS Coatings, Revocoat and Axson Technologies to strengthen its expertise in high performance polymer formulations, the French company said in a 17 Oct announcement.
"Our three businesses together represent a major asset for Axson's customers who will now have access to a broader range of solutions," commented Charles Churet, Axson chairman.
Together the companies make and supply polyurethane and epoxy resins for the industrial transport, energy, construction and infrastructure markets amongst others. The group has 25 subsidiaries and 16 production and R&D sites in countries across Europe, Asia, the Americas, India and Africa.
Churet said Axson forecast sales figures of around Euro 250 million ($345 million) for 2011.
The group also announced that it is building a Revocoat formulation plant in Kolomna, Russia, for the local automotive market. It will be a shared platform for future developments of the group's three businesses.
Axson also said BS Coatings has made an "acquisition of equity" in SIPCO (Saudi Industrial Paint Co.). The joint venture with the Saudi group Univest plans to develop SIPCO's industrial paints by introducing technologies for the production of BS Coatings' pipelines under the Endoprene PU-based coating and Eurokote epoxy resin brands for the Middle Eastern market.