media release

Akzo Nobel Polymer Chemicals Continues to Restructure

Press Release - Akzo Nobel Polymer Chemicals has announced a new phase in its restructuring plan in order to improve its performance. In this phase, the focus is mainly on lowering fixed manufacturing costs.

Arnhem, the Netherlands, December 10, 2003 – Akzo Nobel Polymer Chemicals has announced a new phase in its restructuring plan in order to improve its performance. In this phase, the focus is mainly on lowering fixed manufacturing costs. The proposed measures, which will be carried out during 2004-2006, involve the reduction of an equivalent of approximately 100 full-time jobs. All regions of the world will be affected.

The proposals in this phase of the restructuring are subject to approval of all relevant parties involved in the process. Discussions with these parties have started. Polymer Chemicals wants to avoid forced redundancies as much as possible, and aims to utilize socially responsible methods, such as early retirement and transfers.

“It is our intention to introduce a new organizational structure in this phase of the restructuring. This new organizational set-up will follow the globalization of our major customers,” said Bob Margevich, General Manager of Polymer Chemicals. “It will make Polymer Chemicals more transparent to our customers and will simplify decision-making,” he added. The organizational changes are not expected to result in additional job losses.

Earlier, on August 22, 2003, Akzo Nobel Polymer Chemicals announced a restructuring plan which would result in a reduction of some 150 jobs.

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