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Thursday August 22

Akzo Nobel Acquires Major French Car Paints Distributor Jouanne S.A.

Akzo Nobel has strengthened its position in the French car refinishes market with the acquisition of major paint distributor Jouanne S.A. The French company specializes in the sale of refinishing paints and paint systems for commercial vehicles, and is the biggest of the 60 distributors that currently sell Sikkens car refinishes paint in France. Jouanne, which is mainly active in northwest France, had an annual turnover of EUR 7.5 million in 2001.

"Our aim in car refinishes is to build strong independent distribution networks, supported by our own branches in key markets," said Rudy van der Meer, Member of Akzo Nobel's Board of Management responsible for Coatings. "This acquisition will make an important contribution towards strengthening our distribution capability in France, which we see as one of our main strategic markets in Western Europe."

Cor de Grauw, General Manager of Akzo Nobel's business unit Car Refinishes added, "This takeover represents a valuable acquisition for our company and leaves us ideally placed to reinforce our position as a major refinishes player in the region. Moreover, it enables us to continue the high level of service to which our customers have become accustomed."

The French company, headquartered in Caen, will continue to trade under the name Jouanne S.A. Akzo Nobel has also acquired Jouanne's Le Havre- based subsidiary, SIP S.A. All 45 employees will transfer to Akzo Nobel.

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