History of Interpon USA
On 5 August 2002, AkzoNobel Coatings signed a contract with Ferro Corporation to acquire its powder coatings businesses in the Americas and Asia Pacific. The value of the transaction was USD 73 million free of cash and debt. The Cleveland, Ohio based company posted total sales for its powder coatings businesses in the Americas and Asia Pacific of USD 100 million in 2001. Following successful granting of approval by competition authorities in the United States and other authorities, the deal was successfully closed on Sep 30.
This acquisition not only gives AkzoNobel a top 3 position in what is the single largest powder market in the world, but it also establishes a stronger platform for servicing our global customers. Furthermore, it complements our existing business in Mexico and builds on our existing strengths in Korea and China.
The Ferro Powder Coatings business acquired by AkzoNobel is leading supplier to a wide range of industrial sectors, including the U.S. automotive and appliance powder markets where it has preferred supplier positions and approvals with the top users of powder coatings in both sectors.”
Under the terms of the deal AkzoNobel have taken over all of Ferro’s powder operations in the United States - including factories in Nashville, Tennessee and Brecksville, Ohio, and development & management facilities in Cleveland, Ohio. The products and services of the business will be integrated over a period of time into the Interpon Powder Coatings branding and identity structure. The legal entity for the operations in North America is International Paint Inc.
The "Ferro" and "tick box" brandmarks remain the property of Ferro Corporation and will be phased out of the acquired business over a period of time agreed under the terms of the acquisition.
In Asia Pacific, the deal includes the purchase of Ferro’s powder coatings operations in Ningbo, China, as well as its joint venture interests in Ulsan, South Korea. In total 540 people have transferred to AkzoNobel.
This web site summarizes the products and services previously offered by Ferro Powder Coatings in North America.