Dutch specialty chemicals company AkzoNobel is holding talks to acquire BASF’s industrial coatings business. “AkzoNobel confirms it is in discussions with BASF with regards a potential purchase of their industrial coatings business,” the company said without divulging any further details.

The strategy of AkzoNobel of driving operational excellence and organic growth includes the possibility to pursue value generating, bolt-on acquisitions.

No further details will be made available at this stage, the company said.