Yusuf bin Ahmed Kanoo, a Gulf-based multinational group of companies which has been operating for over 120 years, recently announced a major partnership deal with AkzoNobel, the largest global paints and coatings firm and the leading producer of specialty chemicals.
The new deal strengthens the existing joint venture between AkzoNobel and Kanoo, which only covers the supply of the company's International Paint brand, along with coil and packaging coatings. Working closely with its partners, The Kanoo Group in the UAE and YBA Kanoo in Saudi Arabia, AkzoNobel will offer products from across its Performance Coatings portfolio, including professional woodcare, automotive refinish, marine, yacht, fire protection, protective and powder coatings.
"Extending the agreement will give us a firm foothold in the Middle East and a solid platform from which to deliver on our ambitious growth strategy in the region," said Peter Tomlinson, AkzoNobel's managing director for the Middle East. "We see many opportunities for our products and services to supply the construction, oil and gas and transportation sectors in the Middle East and this deal will ensure that we are better placed to serve our customers. We are also pleased to build on our long-standing relationship with the Kanoo family."
Khalid Kanoo, deputy chairman for Kanoo in Saudi Arabia, said: "AkzoNobel and Kanoo complement each other. It is an excellent time to bring AkzoNobel's Performance Coatings into Saudi Arabia as the Kingdom looks to expand significantly over the coming period."
Mishal Kanoo, deputy chairman for Kanoo in the UAE and Oman, added: "Our relationship with AkzoNobel goes back over 30 years in the UAE and Saudi Arabia. Kanoo has been instrumental in assisting in setting up one of the first multinational paint companies in the region, and now very much look forward to supporting AkzoNobel in its ambition to be a leading supplier of Performance Coatings in both the UAE and Saudi Arabia."
