AkzoNobel divesting German paint stores to sharpen distribution focus
(Thomson Reuters ONE) -
June 26, 2013
AkzoNobel today announced its intention to divest its decorative paints stores
for professionals in Germany to independent wholesale distributors.
The move is intended to strengthen the performance of the company's German
Decorative Paints business by focusing its activities on the distribution and
marketing of paint under brands such as Sikkens, Herbol and Consolan.
"We are changing the marketing strategy of our German Decorative Paints business
to focus on our key organizational strengths of marketing and distributing our
strong paint brands," said Ruud Joosten, the company's Executive Committee
member responsible for Decorative Paints. "This is part of our ongoing efforts
to strengthen both our organizational efficiency and our profitability in
Germany."
The company currently operates 72 German stores selling professional paint and
third party products, with the Decorative Paints organization employing around
950 people in Germany. In total, AkzoNobel's Decorative Paints, Performance
Coatings and Specialty Chemicals businesses have 3,900 employees in Germany,
along with 17 manufacturing plants and eight offices, generating revenue of
close to ?1.3 billion in the country in 2012.
The new set-up will allow AkzoNobel to select the most efficient distribution
channels for its professional paint products, rather than operating its own
stores. The company intends to enter into strategic partnership agreements with
the future shop owners, as well as strengthening its relationship with its
existing network of independent distributors.
Commenting on the company's plans, Werner Fuhrmann, the Executive Committee
member responsible for Specialty Chemicals and Germany, said: "Germany has
always been, and will remain, an important market for AkzoNobel. The company is
continuing to invest in Germany, evidenced by recent acquisitions including
Schramm (2011), Lindgens Metal Decorating Coatings (2010), Dow Chemicals' Rohm &
Haas business (2010) and LII Europe (2009). A total of ?140 million is also
being invested in new technology at a chemicals plant in Frankfurt, which is
expected to go on stream in the first quarter of 2014."
AkzoNobel will also be reviewing its office footprint in Germany. Continued
Fuhrmann: "These improvements are intended to reduce complexity and further
improve the operational efficiency of our German activities. They will boost our
competitiveness and help us to greater success for our businesses in Germany
going forward."
- - -
AkzoNobel is a leading global paints and coatings company and a major producer
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers for
our customers. Our portfolio includes well-known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are
consistently ranked as one of the leaders in the area of sustainability. With
operations in more than 80 countries, our 50,000 people around the world are
committed to excellence and delivering Tomorrow's Answers Today(TM).
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Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations,
tel. +31 20 502 7854
Contact: Kirstin Steffen Contact: Jonathan
Atack and Sheryl Stokes
Pdf file AkzoNobel press release:
http://hugin.info/130660/R/1711985/568084.pdf
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Source: Akzo Nobel NV via Thomson Reuters ONE
[HUG#1711985]
Unternehmensinformation / Kurzprofil:
Datum: 26.06.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 273295
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