Issue Date: January 14, 2008
Akzo Nobel Sets Fast Pace On ICI
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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