AkzoNobel Agrees to JV Deal in Oman to Boost Middle East Presence

摘要

AkzoNobel has expanded its presence in the Middle East after acquiring a 50 percent stake and management control of Sadolin Paints Oman SAOC, which employs approximately 150 people. The company has signed a joint venture agreement with Omar Zawawi Establishment LLC (promoter and shareholder of Sadolin Paints) which involves the manufacture and sale of decorative paints and performance coatings in Oman. Financial details were not disclosed.