AkzoNobel-Axalta merger gives coatings firm extra layers

Dutch coatings giant AkzoNobel and US firm Axalta have agreed to merge into a $25 billion (£19 billion) global coatings company. The firms touted complementary portfolios and estimated around $600 million in projected cost savings. The move is part of an ongoing trend of consolidation within the coatings sector, focusing on building scale and cutting costs.