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Business

Akzo Nobel Sets Fast Pace On ICI

January 14, 2008 | A version of this story appeared in Volume 86, Issue 2
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Akzo Nobel CEO Hans Wijers says 2008 will be "another vital year" for his company following completion of the acquisition of ICI on Jan. 2. In a New Year's message, Wijers told employees that the company's new management teams will embark on a fast integration that should realize annual cost synergies of more than $400 million. Even after allowing for some divestitures to satisfy antitrust authorities, the enlarged company's paint operations will be a global leader with a market share of roughly 15%.

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