AkzoNobel Set to Acquire Wheel Liquid Coatings Business

AkzoNobel (Amsterdam, Netherlands) is set to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH (Leipzig, Germany). Completion, which is subject to regulatory approvals, is expected before the end of 2022.

Lankwitzer’s rims and wheel business’ products are reportedly approved for use by car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault.

Michael Friede, AkzoNobel’s chief commercial officer for performance coatings, says, “We’ll be able to provide a comprehensive liquid and powder aluminum wheel coating offering to customers, becoming a one-stop-shop for the wheels industry, which will significantly reinforce our position in an important automotive market.” He adds, “It’s a great match which aligns perfectly with our Grow & Deliver strategy and will give us access to new sectors of a market with exciting opportunities.”

Commenting on the proposed acquisition, Dr. Leo Rokeach, Lankwitzer’s managing director, says, “We’re immensely proud of the business we’ve built here at Lankwitzer Leipzig. It’s now time to let our people and clients benefit from a global environment, which AkzoNobel undoubtedly offers. Being part of AkzoNobel's worldwide activities will offer attractive growth prospects for the Leipzig site and its employees.”

In addition to the Leipzig facility, Lankwitzer’s wheel coatings business — which has a growing presence in China — operates laboratories in Germany and Turkey.

The intended transaction follows on from a series of recent acquisitions by AkzoNobel over the last two years, including Grupo Orbis in Latin America, Titan Paints in Spain and Portugal, New Nautical Coatings in the U.S. and, most recently, the intended acquisition of the African paints and coatings activities of Kansai Paint.