Volume 86 Issue 2 | p. 31 | Concentrates
Issue Date: January 14, 2008

Akzo Nobel Sets Fast Pace On ICI

Department: Business

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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