AkzoNobel announces to sell AkzoNobel India to JWS paints. The company now reveals the reason to choose JSW paints. AkzoNobel on partnering with JSW Paints is a strategic partnership to combine global expertise with local execution.
AkzoNobel confirms that it is not exiting India, retain full ownership of power coatings business. It will remain the technology partner to JSW paints.
You should know some facts. JSW entered the paint market in 2019, but it built very quickly.
Its focus was: –
- Cutting‑edge manufacturing facilities
- A pan‑India distribution network
- Expertise in R&D and process innovation
Moreover, AkzoNobel retains key IP for liquid coatings. JSW will pay a 4.5% Royalty while benefitting ongoing tech collaborations.
JSW paints, Parth Jindal, saw this as an opportunity to move JSW into the top 3 paint giants in India.
The deal sets a stage for reverse merger with AkzoNobel India in future, it can fast track JSW’s public listing.
AkzoNobel sold its Indian consumer coatings arm to JSW Paints because:
- JSW provides local operational strength and distribution network Akzo lacked.
- Their long-term investment strategy aligns with Akzo’s premium legacy.
- The royalty and IP agreement preserves tech excellence.
- JSW’s growth and listing ambitions offer a new platform to scale Dulux in India