AkzoNobel to conduct €2 billion capital repayment and share consolidation, returning vast majority of net proceeds from sale of Specialty Chemicals
Posted on Tuesday November 13, 2018

AkzoNobel shareholders have today voted in favor of all resolutions at the company`s Extraordinary General Meeting (EGM). The capital repayment and share consolidation, agreed by a majority of shareholders, follows completion of the sale of the Specialty Chemicals business. A special cash dividend of €1 billion and share buyback of €2.5 billion will be conducted following the capital repayment and share consolidation.

AkzoNobel to work with world's coolest innovators and paint the future
Posted on Monday November 12, 2018

AkzoNobel products already do this - now the plan is to go even further. AkzoNobel wants to combine its global scale, know-how and expertise with the ingenious solutions of startups and scale-ups around the world. "Our passion for paint and innovation goes way back and we`re even more excited about the future," says AkzoNobel CEO, Thierry Vanlancker.

Akzo Nobel withstands rising raw material costs to improve profit
Posted on Wednesday October 17, 2018

Dutch paints and coatings maker Akzo Nobel improved its third quarter operating profit by some 8 percent despite the impact from raw material inflation, which it said on Wednesday had peaked. More expensive materials such as oil left Akzo Nobel struggling in the first half of this year, after a stand-off with disgruntled shareholders in 2017 over a rejected 26 billion euros ($30 billion) takeover offer from rival PPG Industries. Adjusted operating profit rose to 243 million euros, narrowly beating the average expectation in a Reuters poll of analysts.

Akzo Pushes Ahead With Cost Savings as Raw Materials Soar
Posted on Wednesday October 17, 2018

The target -- called ambitious by analysts -- was set by the predecessor of Chief Executive Officer Thierry Vanlancker as part of the manufacturer’s successful defense against a hostile 2017 approach from rival PPG Industries Inc.The company said it deliberately sold lower volumes and raised product prices in the latest quarter in a bid to improve margins. It made 35 million euros ($40 million) in cost savings and aims to deliver another 200 million euros by 2020.Akzo Nobel has transformed into a focused coatings company following the $12.5 billion sale on Oct. 1 of its more-profitable chemicals business. Market ReactionAkzo shares jumped as much as 4.4 percent, the most in almost six months, and traded 4.2 percent higher at 77.16 euros as of 9:18 a.m. in Amsterdam.