Revenue exceeds 120 billion yuan! The two largest global paint manufacturers, AkzoNobel and Axalta, have merged!

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Revenue exceeds 120 billion yuan! Two major chemical giants merge! On November 18, two of the world’s largest paint manufacturers, AkzoNobel and Axalta, jointly announced that they had reached a final agreement to merge their stocks in order to create a leading global paint company with annual revenues of $17 billion (approximately 120.9 billion yuan). The two companies stated that the combined entity’s business covers areas such as powders, aerospace, repair coatings, mobile electronics, marine and protective coatings, industrial coatings, and decorative coatings. It offers a wide range of product solutions through around 100 well-known brands, with 173 manufacturing plants and 91 R&D facilities across the world ； R&D expenditures are expected to amount to around $4 billion per year, with approximately 4,200 researchers, scientists, and engineers, as well as about 3,200 patent applications that have been approved or are still under consideration. It is reported that the combined company is expected to have an annual revenue of $17 billion, a corporate value of $25 billion, an adjusted EBITDA of $3.3 billion, and an adjusted free cash flow of $1.5 billion, with cost synergies amounting to around $600 million. The transaction is expected to be completed by the end of 2026 or early 2027. The merged company will adopt a new name and stock symbol, which will be announced in due course. It will have dual headquarters in Amsterdam and Philadelphia, its registration will be in the Netherlands, and it will be listed on the New York Stock Exchange.