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Article: Akzo Nobel plans creation of two entities, Board changes.(Business & Industry)
- Article from:
- JCT CoatingsTech
- Article date:
- April 1, 2007
CopyrightCOPYRIGHT 2007 Federation of Societies for Coatings Technology. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Akzo Nobel, Arnhem, The Netherlands, has announced that its Board has approved its plans to create two separate companies. The independent entities will focus on Coatings/Chemicals and Pharmaceuticals, respectively.
"Over recent years, we have made significant progress related to our strategy of fixing pharma, refocusing our chemicals portfolio, and continuing to grow and invest in our coatings business," said Hans Wijers, CEO of Akzo Nobel. "As a logical next step, and after a thorough strategic review, we believe that creating two independent companies, Coatings/Chemicals and Pharmaceuticals, will enhance shareholder value through both increased management and ...