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Market Watch Industry news Divestment Asian market Arch Chemicals sells Industrial Coatings Business Opening Perstorp expands in India Perstorp has opened a new application laboratory in Ghatkopar, a suburb of Mumbai. The laboratory will assist application R&D experts with the exploration of new formulations and developments in paint, coating and resin. As the automotive, construction and textile industries in India continue to boom, demand is growing especially from coatings formulators. Perstorp has also recently expanded its sales and marketing organization in India to better support the Perstorp offers support for application R&D experts in a new application laboratory in Source: Perstorp customers and plans to continue to recruit further competence. www.perstorp.com Distribution IMCD strengthens its presence in India IMCD Group B.V. further strengthens its commitment and investment in India by appointing Mr. Satish Kumar as a Managing Director for IMCD India, headquartered in Mumbai, effective 1. March, 2010. “IMCD"s vision of growth and expansion, has led to breaking into new territories with India, seen as a key focus market for its huge development as a growing economy. The presence of IMCD in India marks a strategic investment, which will bring its highly rated & successful distribution business model, working in partnership with suppliers, to the market’s growing need of products and services and in doing so, supporting the growth of the Indian economy”, Piet van der Slikke, IMCD’s CEO told European Coatings Journal. “IMCD has been present in India for some years now and after a period of sourcing locally for the European market, we are now rapidly expanding our sales and distribution organisation for the Indian market. Having established a sales and distribution organization in China in November last year, this was the next logical step for us.” www.imcdgroup.com Market study Global paint additives market to exceed USD 6 billion by 2015 Global Paint Additives Market Share (in %) in 2010 and 2015 Source: Arch Chemicals announced that it has signed a definitive agreement to sell its Industrial Coatings business to The Sherwin-Williams Company for approximately EUR 40 million in cash. The agreement covers operations located in Italy, U.K., Spain, North America and Singapore. These locations manufacture and supply a wide range of industrial coatings used for surface protection and decorative finishes in furniture and joinery applications. Key product lines include polyester-based, polyurethane-based and water-based coatings and stains as well as UV systems. Arch’s Industrial Coatings business had sales of USD 147.1 million in 2009. The purchase price is subject to a post-closing working capital adjustment. The Company expects the transaction to result in a breakeven to a modest pre-tax gain. Proceeds from the divestiture will be used for general corporate purposes. This agreement has been approved by the Boards of Directors of both companies. www.archchemicals.com Acquisition Chemical distribution: Brenntag buys Metausel Brenntag has announced the acquisition of the chemical distribution assets of Metausel, headquartered in Strasbourg, France. Metausel distributes mainly industrial chemicals into various industries such as painting and constructions, food, pharmaceuticals, water treatment and surface treatment. The company serves customers in the Alsace-Lorraine area which is one of the strongest economic regions in France. According to Yves Merolle, Managing Director Brenntag France, the company will further strengthen its position as chemical distributor in France through this acquisition. www.brenntag.com Global Industry Analysts Inc. The trend towards low- or zero-VOC products and the increa