Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

AkzoNobel Readies A Restructuring

by Marc S. Reisch
October 31, 2011 | A version of this story appeared in Volume 89, Issue 44

AkzoNobel plans to reduce costs through a three-year restructuring program that is expected to improve annual earnings by nearly $700 million. Difficult economic conditions and raw material price inflation are driving the cost-cutting effort, the Dutch firm says. An executive committee formed earlier this year has compiled 20 master plans with more than 100 detailed initiatives expected to cost nearly $590 million by 2014. More than 70% of the earnings improvements will come from the firm’s decorative and performance coatings businesses. The balance will come from specialty chemicals. Akzo continues to expand in China, where it will spend $83 million to build a 25 million-L automotive refinish coatings facility in Changzhou by 2014.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.