AKZOAlgemene Koninklijke Zout Organon (Dutch: General royal silk organisation; merger of AKU and KZO in 1968)
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C[pounds sterling]The economic slowdown continues to be more evident in our retail businesses in the US and Europe and, as indicated in 2007, within performance coatings in our industrial coatings business,C[yen] Akzo told shareholders at its annual meeting.
The deal, which has created the world's biggest paintmaking business, was only given the go-ahead by the European Commission after Akzo agreed to sell its Crown Paints.
Akzo agreed in August to buy ICI, which makes Dulux paints, for pounds 8bn to create the world's biggest paintmaker and retain its lead in industrial coatings.
Akzo had originally been given until 5pm yesterday to put forward a bid after first approaching ICI in June.
ICI agreed to the move after Akzo, the maker of Crown paints, tabled a revised 670p a share offer, valuing ICI at pounds 8 billion.
Paul Hoffmann of CB Richard Ellis' Stamford office negotiated the 10-year lease on behalf of Akzo Nobel.
Akzo Nobel says Worth is the first bat manufacturer to use automotive finish for cosmetic appeal.
To further promote Akzo Nobel Inks' products and services in the Western Hemisphere, distributors will more closely align with ANI North America to supply the narrow web market with products and services.
It will also enable Diosynth to increase its market strength as one of the strategic technology platforms of Akzo Nobel Pharma, alongside Organon and Intervet", said Paul K.
Europe's leading refrigerated trailer manufacturer, Schmitz Cargobull, has awarded Akzo Nobel CT Coatings the contract to supply commercial vehicle paint products to its UK factories at Harelaw, County Durham and Maldon, Essex.
Under this new structure, ICI's retained Specialty Polymers and Regional and Industrial activities will move to Akzo Nobel Specialty Chemicals, while ICI's Packaging Coatings operation will join Akzo Nobel's Performance Coatings portfolio.
DUTCH chemical group Akzo Nobel has said it expected its planned takeover of ICI to help it make savings of around pounds 1.