Dutch multinational Akzo Nobel eyeing long-term ties with JSW

Akzo Nobel NV, the Dutch multinational operating in paints and performance coating business, is looking for a long-term partnership with JSW Paints and it will continue to have "important presence" in India, where it is looking for a play in aerospace and marine coating space, said chief executive officer (CEO) Greg Poux-Guillaume.

- Press Trust of India

MUMBAI:

The company is retaining its powder coating business and R&D centre in India after transferring its stake in Akzo Nobel India Ltd (ANIL) to JSW Paints, part of Sajjan Jindal-led $23-billion JSW Group.

Akzo Nobel NV will remain the technology partner to JSW Paints, with a 4.5% royalty and licensing agreement, said Guillaume in a media round-table here.

"So India remains a large and important presence for us. And it remains a significant market for us to tackle, but with powder and with things like aerospace," said Guillaume.