Company Is Getting Back on Its Feet, Says Akzo Nobel CEO
Posted on Wednesday July 18, 2018
Thierry Vanlancker, chief executive officer at Akzo Nobel, discusses second-quarter earnings, inflation in raw material prices, the impact of the trade war on his business and the global economy and their ...
Akzo Hits Pause Button in China as CEO Pursues Higher Prices
Posted on Tuesday July 17, 2018
Akzo Nobel NV’s growth in China stuttered in the second quarter as the company opted to push through higher prices for household paint at the expense of losing some customers in the Asian nation. “After really sharp growth in China, we made a more deliberate choice to hit the pause button on growth,” Chief Executive Officer Thierry Vanlancker said on a media call on Wednesday. The owner of the Dulux brand increased paint prices by 5 percent globally in the second quarter as it sought to offset higher expenses for raw materials, such as the whitening agent titanium dioxide, the Amsterdam-based company said in a statement.
Akzo Treads Water in China as CEO Raises Prices for Paint
Posted on Tuesday July 17, 2018
Akzo Nobel NV’s growth in China stuttered as Europe’s biggest coatings maker opted to push through higher prices for household paint at the expense of losing some customers. “After really sharp growth in China, we made a more deliberate choice to hit the pause button on growth,” Chief Executive Officer Thierry Vanlancker said on a media call on Wednesday. The owner of the Dulux brand increased paint prices by 5 percent globally in the second quarter as it sought to offset higher expenses for raw materials, such as the whitening agent titanium dioxide, the Amsterdam-based company said in a statement.
Akzo Nobel misses second-quarter core earnings, sales forecasts
Posted on Tuesday July 17, 2018
Analysts polled for Reuters had expected adjusted operating income to drop 15 percent to 249 million euros. The results come after Akzo agreed in March to sell its speciality chemicals unit for 10.1 billion euros to a group of buyers led by Carlyle Group (CG.O). Akzo said operating income in the latest quarter had been mainly hurt by 21 million euros in adverse foreign currencies and 20 million euros in non-recurring items.
