By Oliver Griffin

Akzo Nobel NV (AKZA.AE) on Thursday said it intends to acquire French aerospace coatings manufacturer Mapaero.

The Dutch paint maker said the intended acquisition will strengthen its position in aerospace coatings, notably in the structural and cabin coating subsegments, and contribute directly toward delivering its 2020 guidance.

Akzo Nobel said the deal would add 15% toward its return on sales target.

Mapaero's president and CEO, Eric Rumeau, said there is clearly a strong match in a possible combination.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

July 18, 2019 04:25 ET (08:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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