16 February 2016
AkzoNobel continues to grow its presence in the Middle East with the formation of Akzo Nobel Decorative Paints (ANDP), a joint venture company with Easa Saleh Al Gurg Group
LLC. The new entity will strengthen AkzoNobel's position in the Decorative Paints segment with the premium brand Dulux. ANDP will develop the market for the Dulux brand further and align the brand with the latest global developments to enhance customer satisfaction and experience within the market.
At a formal ceremony held at the AkzoNobel headquarters in Amsterdam, a few days ago, Peter Tomlinson, Managing Director, AkzoNobel Middle East and Abdulla Fareed Al Gurg, Group General Manager, Easa Saleh Al Gurg Group LLC, signed the Joint Venture agreement.
Easa Saleh Al Gurg Group LLC is a multi-dimensional conglomerate that has a portfolio of 26 companies. The Group has a range of diverse product and business interests that predominantly include retail, building and construction, industrial and joint ventures. This Joint Venture will enable ANDP to promote and develop the market for decorative coating products, supported by M/s. Easa Saleh Al Gurg's reputation and wide customer network.
"This new partnership forms another strategic opportunity for AkzoNobel's Decorative Paints business in the Middle East', said Ruud Joosten, Executive Committee member responsible for Decorative Paints. " We are delighted to be entering this dynamic new market and we do recognize and respect the longstanding success the Easa Saleh Al Gurg Group has had in UAE.''
Group General Manager of the Easa Saleh Al Gurg Group, Abdulla Fareed Al Gurg commented "This joint venture will complement our existing business and leverage on the distribution network of Easa Saleh Al Gurg Group LLC. The deep category knowledge due to the long-standing Dulux brand association, local market experience; and our mutual commitment to consumer-focused innovation, gives us confidence that this partnership will be a long-term success."
Continued Peter Tomlinson, Managing Director of AkzoNobel in the Middle East: "We are committed to growing in the Middle East region and strengthening the relationship with our local partners. Boosting our decorative coatings and paints offer in the region will provide a strong platform to support our customers in this increasingly important market."
AkzoNobel has been bolstering its operations in the region. In 2013, the company established a Joint Venture with Sadolin Paints Oman, a manufacturer of decorative paints and performance coatings under the name of Akzo Nobel Oman SAOC.
AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. Calling on centuries of expertise, we supply industries and consumers worldwide with innovative products and sustainable technologies designed to meet the growing demands of our fast-changing planet. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as one of the leaders in the area of sustainability, we are committed to making life more liveable and our cities more human.
This press release contains statements which address key issues such as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website www.akzonobel.com
© Press Release 2016