Akzo Nobel forms JV in Indonesia

Akzo Nobel forms JV in Indonesia

AMSTERDAM: Dutch coatings and chemicals company Akzo Nobel NV said Tuesday that it has formed a joint venture in Indonesia with PT Bina Propertindo Edikarya to produce decorative paints for the Indonesian market.

Akzo Nobel will hold 65 percent of the new company.

"This is an important step in increasing our market share in the Asia Pacific region where we already have operations in China and Vietnam," said Jan Andersson, General Manager of Akzo Nobel Decorative Coatings International. -- Dow Jones