AkzoNobel (Amsterdam, Netherlands; www.akzonobel.com) is realigning its Performance Coatings and Specialty Chemicals portfolios, which will result in the launch of two new business units and the merger of two others. Due to come into effect on January 1, 2010, the planned changes include the creation of a standalone Wood Finishes and Adhesives business and a restyled Industrial Coatings business, while the company’s Polymer Chemicals activities will be merged into the Functional Chemicals organization.
Wood Finishes and Adhesives will comprise the company’s current wood finishes and wood adhesives activities, while Industrial Coatings will be made up of the present Packaging Coatings, Coil Coatings and Specialty Plastics operations. In addition, in order to benefit more from their inherent technology and supply chain synergies, AkzoNobel Aerospace Coatings will transfer from Marine and Protective Coatings to Car Refinishes.
The new structure will see Bob Taylor become managing director of Marine and Protective Coatings, succeeding Bill McPherson, who is due to retire in April, 2010. John Wolff will become managing director of the new Wood Finishes and Adhesives business, while Conrad Keijzer will be managing director of the new Industrial Coatings business.
The merger of Polymer Chemicals into Functional Chemicals is designed to create a more cost-efficient business that is better equipped to sustain future growth. Bob Margevich will continue as managing director of Functional Chemicals and will lead the new business once the activities are combined. Alan Kwek, managing director of Polymer Chemicals, will continue in his current role until the end of 2009, after which he plans to leave AkzoNobel to return to Singapore.
AkzoNobel realigns its portfolio
| By Dorothy Lozowski