Akzo Nobel to Divest Units, Cut Costs, but Seek Expansion of Coatings Business
ARNHEM, The Netherlands - Akzo Nobel, the world's biggest coatings manufacturer, will seek to divest businesses worth 500 million euros as part of an overall strategy to improve financial results, the company's new CEO said during a recent session with market analysts.
But Hans Wijers, who assumed leadership of the company on May 1, said Akzo Nobel is "committed to further growth" of its Coatings segment, which he described as "a very attractive business with a high upside."