Decorative coatings company agrees a 75/25 majority interest in joint venture with Nippon Kayaku.
Kayaku Akzo Co. Ltd has been a 50/50 joint venture between the two companies for nearly 40 years.

Nippon Kayaku, a leading supplier of organic peroxides to Japan, has sales offices in Tokyo and Osaka, as well as a manufacturing and research development facility in Asa, Japan.

Rob Frohn, board member responsible for Akzo Nobel Speciality Chemicals said: "This opportunity allows Akzo Nobel to gain access to the Japanese market and take on the leadership in the longstanding cooperation."

Akzo Nobel Polymer Chemicals general manager added: "We respect the success KAC and its employees have had to date and we look forward to our continued partnership with Nippon Kayaku."

According to the company, management of the new organisation will 'effectively remain unchanged' and will be governed by an oversight committee made up of directors representing both Akzo Nobel and Nippon Kayaku, who will remain a minority ownership interest.