Akzo Nobel CEO Says Coatings Business Will Fuel Growth
January 1, 2005
ARNHEM, Netherlands - Akzo Nobel CEO Hans Wijers said the Netherlands-based coatings, chemicals and pharmaceuticals company will pursue growth of its Coatings segment as part of a strategy to focus on core operations. Wijers, addressing separate meetings with financial analysts in London and New York, said an expansion of the company's Coatings segment "will accelerate as we expand our global leadership organically and through acquisitions, while continuing to improve financial returns." Addressing Coatings-segment strategies, Wijers said growth in mature markets "will be powered by technological innovation, delivering superior new products to our customers, and by in-fill and bolt-on acquisitions where we see an opportunity to add value to our portfolio." In emerging markets, he said Akzo Nobel "will aggressively expand our position, mainly by Greenfield investments. China is our fastest-growing market, with sales set to double in the next five years."