Amsterdam, the Netherlands, January 7, 2008 - Akzo Nobel CEO Hans Wijers says 2008 will be another vital year in the company's long history following the successful completion of the acquisition of Imperial Chemical Industries (ICI).
During his traditional New Year's message, the chairman told employees worldwide, that with the formalities now finalized, the newly appointed management teams can embark on a fast and effective integration process, which is expected to realize annual cost synergies of
EUR 280 million.
"These are exciting times," said Wijers. "We have brought together two great companies with proud histories of sustained achievement. I'm delighted to welcome all our new employees and I look forward to a successful future together as we continue to build one of the world's leading and most respected industrial companies.
"The transformation of the company will continue during 2008. Now that we are one company, we are bigger, stronger and more focused, with a clear ambition to serve our customers and help them become even more successful."
As of January 2, 2008, Akzo Nobel operates in three business areas: Decorative Paints, Performance Coatings and Specialty Chemicals. Two integration teams have been appointed to manage the integration process. One is focused on merging the Decorative Paints activities - which is led by Tony Britt - the other team is headed by Piet Schalkwijk, who manages the integration project office dedicated to effectively combine the companies at corporate level.
"We want to maximize the expertise of all our employees and consolidate our strong positions in markets across the globe," continued Wijers. "Our efforts will be channeled into building on the momentum we have already created and making sure that the enlarged
Akzo Nobel delivers on the full potential that this combination offers to our customers, employees, shareholders and communities in which we operate."
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Akzo Nobel is one of the world's leading industrial companies. We are the biggest global coatings manufacturer and the number one in decorative paints and performance coatings, as well as being a major worldwide supplier of specialty chemicals.
We employ around 68,000 people in more than 80 countries and are committed to developing innovative products and cutting-edge technologies, with a heavy emphasis on sustainability. We have the scale and expertise to deliver whatever our customers require, wherever and whenever they need it. Based in the Netherlands, Akzo Nobel is a Fortune Global 500 company and is listed on the Euronext Amsterdam stock exchange. We are the Chemicals industry leader on the Dow Jones Sustainability Indexes, as well as being included on the FTSE4Good Index. Pro forma combined revenues for 2006 totaled EUR 15 billion. The financial results for the fourth quarter and full year will be published on 6 March 2008 (preliminary date).
Contact: Tim van der Zanden
