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AkzoNobel N.V.
Amsterdam, the Netherlands
www.akzonobel.com
PUBLIC COMPANY
HEADCOUNT: 58,300
YEAR ESTABLISHED: 1994
COATINGS REVENUES: $14.124 billion
TOTAL REVENUES: $22.658 billion
SEGMENT BREAKDOWN
• Decorative Paints: 34%
• Performance Coatings: 29%
• Specialty Chemicals: 37%
KEY PEOPLE
Hans Wijers, CEO and chairman of the board of management;
Leif Darner, board member responsible for performance coatings; Tex Gunning, managing director of AkzoNobel decorative paints (nominated to join the board of management in
May 2009).
AkzoNobel is the world’s leading paint and coatings man- ufacturer. Based in Amsterdam, the Netherlands, the largest global paint and coatings firm’s 2008 revenues
totaled $14.124 billion. The key event during the year was
the completion of the $17 billion (€ 11. 6 billion) acquisition
of Imperial Chemical Industries (ICI) making AkzoNobel
the world’s largest decorative paints company.
Following the ICI acquisition, the on-sale of part of the
National Starch business to Henkel was completed. The
$4.5 billion (£2.7 billion) deal involved the divestment of
the former ICI’s adhesives and electronic materials
activities. In line with the commitment package agreed
in connection with the acquisition of ICI, Akzo
announced the sale of its Para and Crown Diamond decorative paints brands in Canada to General Paint Corp.
In August, the sale of its Crown Paints decorative paints
business in the UK and Ireland to Endless LLP was also
agreed, along with the divestment of two Belgian brands
to Rieu Investissements S.A.
The firm revealed an investment of approximately $70
million (€ 50 million) in its performance coatings activities
after agreeing to two acquisitions to boost the company’s
car refinishes and industrial finishes businesses. The two
deals involved the purchase of durable paint and bright
films manufacturer Soliant LLC and the global floor coatings business of Lord Corporation, both of which are
based in the U.S.
Akzo also strengthened its marine and protective coatings portfolio with the acquisition of the Enviroline business from Florida-based Industrial Environmental
Coatings Corporation. Enviroline is a specialist supplier
of high performance, corrosion-resistant linings, predominantly for the oil and gas industries, specializing in both
new construction and maintenance projects.
During the year AkzoNobel continued its push into
China with the opening of a new $32 million (€ 23 million)
facility for the manufacture and sale of protective coatings
in Suzhou, close to Shanghai.
The company’s industrial finishes broke ground on a
new coatings manufacturing plant in India, signaling
the company’s ambition to become one of the country’s
leading industrial players. The new facility, being built
near Bangalore, will produce coil and specialty plastic
coatings.
Early in 2008, AkzoNobel also launched a new corporate
brand—Tomorrow’s Answers Today—along with a new logo
(seen at the top of this profile). ;
Source: AkzoNobel’s annual report
AKZONOBEL LAUNCHES ECOSURE
During the year, AkzoNobel launched Ecosure, an
environmentally friendly decorative paint range for
the professional market in the UK. The product was
developed by Dulux Trade in conjunction with
Forum for the Future, an independent group of sustainability experts. For AkzoNobel it represents a
major step towards environmentally sustainable
paint with reduced carbon and VOCs. Ecosure’s
packaging is also made from at least 25% recycled
materials. Ecosure was endorsed by Marks &
Spencer at the EcoBuild 2008 event and is being
trialed by the retail firm at its new White City store
in London. AkzoNobel’s Ecosure line includes matt,
gloss and undercoat varieties.
