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AkzoNobel to Integrate Specialty Polymers Group into Existing Businesses

Published on 2008-05-16. Author : SpecialChem

CHICAGO -- AkzoNobel will integrate the former ICI's Specialty Polymers Group into other Specialty Chemicals business units. As a result, Elotex will become part of AkzoNobel Functional Chemicals, while Alco and Personal Care will join AkzoNobel Surfactants , which will be renamed AkzoNobel Surface Chemistry. These changes are aimed at better capturing the available business opportunities within the new businesses.

The integration will allow AkzoNobel to more easily capture product line synergies while sharing support infrastructure. It is well in line with the company's strategy to become a more focused, leading player in the chemicals industry.

"The integration of the Personal Care and Alco businesses considerably boosts our position in the market," explained Frank Sherman, Manager of AkzoNobel's Surfactants business. "The union with these two units will create a group which spans technologies in natural polymers, synthetic polymers and specialty Surfactants under one roof. We see this as a significant step forward in our strategy to become a more valued strategic partner to our key customers."

Added Bob Margevich, Manager of AkzoNobel Functional Chemicals: "We already have good relationships with most of Elotex's key customers, which is an important factor in being able to successfully integrate the business into our operations. Our immediate task is to sit down with our new colleagues and find the external synergies, as well as working out the various day-to-day internal business processes and harmonizing them with ours. From what we have seen so far, we expect a smooth integration." The integration process will start immediately.

About AkzoNobel:

AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - pro forma 2007 revenue totalled €14.4 bln. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today.

Safe Harbor Statement

This press release contains statements which address such key issues as Akzo Nobel's growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest Annual Report.

Source: AkzoNobel


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