Akzo Nobel has announced a major restructuring plan for its car refinishes business, which tallied sales of E880 million in 2003. Over the next two years, Akzo Nobel will eliminate approximately 600 full-time jobs—or 10%—of the global workforce.
Akzo Nobel Car Refinishes supplies paint, decals, services and software to the car repair, commercial vehicle and automotive markets.
In other news, Akzo Nobel has signed a contract with the Altana Group to acquire the Rhenacoat coil coatings business in France, an operation with 60 employees and annual sales of E11.6 million in 2003.
“This is a strategically important acquisition because it will provide Akzo Nobel with a dedicated coil coatings manufacturing facility in France, Europe’s largest coil market,” said Rudy van der Meer, member of Akzo Nobel’s board of management responsible for coatings. “It will also give us access to the French building products market and present an excellent opportunity to grow and strengthen our coil coatings operation in some key business sectors.”
According to van der Meer, the deal has added significance because it will provide “opportunities for growing our presence in the European aluminum coil sector, as well as facilitating the consolidation of our entire French/ Benelux coil operations at Akzo Nobel’s Montataire facility near Paris.”