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AkzoNobel has announced its intention to invest €45 million in a new Dicumyl Peroxide (DCP) plant at its Ningbo multi-site in China to meet a growing local, regional and global demand. Widely used as cross-linking agent for various polymers and copolymers, DCP can be found in a variety of products like shoe soles, cable insulation, and construction insulation.
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AkzoNobel is planning to invest around €60 million to increase the production capacity of its Automotive and Aerospace Coatings business in China. This investment will provide additional momentum for the company’s accelerated growth strategy of achieving revenue of $3 billion in China by 2015, and strengthen AkzoNobel’s leadership position in the country’s automotive refinishes market.
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Akzo Nobel N.V. (AkzoNobel) today announced revenue growth of 5 percent, driven by pricing actions to offset raw material cost inflation. Market conditions have become more difficult since the second quarter, which has had an impact on results, particularly in Decorative Paints.
While the overall top-line growth remained relatively strong, volume development continued to soften. In addition, input costs continued to rise, outpacing selling price increases. Consequently EBITDA decreased 12 percent to €507 million. Further price increases are being implemented and the cost base is being adjusted.
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AkzoNobel has launched a performance improvement program to strengthen its competiveness, enhance its ability to grow, simplify its support structures and reduce its cost base. The program will restructure underperforming parts of the portfolio, transfer best practices and standardize, as well as simplify key processes.
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Today, AkzoNobel announced an important step in its global Decorative Paints’ marketing strategy: a single global brand identity for its retail consumer paint range. The Let's colour identity includes the brands Dulux, Flexa, Levis, Alba, Coral, Marshall, Astral, Bruguer, Dulux Valentine, Inca, Sadolin and Vivechrom.
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AkzoNobel has today completed its acquisition of more than 95 percent of the shares of coatings manufacturer Schramm Holding AG. The deal was first announced in June of this year.
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Akzo Nobel NV (AkzoNobel) signed a new, €1.8 billion five year multi-currency syndicated revolving credit facility to refinance its existing €1.5 billion facility.
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The CEO of AkzoNobel, the world’s largest paint firm, made a special visit to the company’s Felling site today to present a team of employees with AkzoNobel’s top employee innovation award.
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The Friends of Brierdene have received a £2000 boost from the AkzoNobel community programme to improve community access and the environment in the popular conservation area in Whitley Bay.
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Gateshead MP Ian Mearns today visited the Felling site of AkzoNobel, the largest private-sector employer in the Borough of Gateshead. Felling is the headquarters site for the company's International Paint business.
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