AkzoNobel reaffirms commitment accelerate growth, profitability

AkzoNobel reaffirms commitment to accelerate growth, profitability

9:35 AM, 2nd June 2017
AkzoNobel headquarters building in Amsterdam, Netherlands. (File photo)

AMSTERDAM, NETHERLANDS: AkzoNobel NV (AKZOY) has noted the recent announcement from PPG Industries Inc (PPG) that it has withdrawn its proposal and will not pursue an offer for AkzoNobel.

“We continue to focus on our business, pursuing our strategy of accelerating sustainable growth and profitability and creating two focused, high-performing businesses – paints and coatings and speciality chemicals. We believe this will lead to a step change in growth and long-term value creation for our shareholders and all other stakeholders,” commented Ton Buchner, CEO of AkzoNobel, following the announcement.

“Our talented teams around the world continue to develop, produce and deliver the most innovative and sustainable products and services for our customers, and I would like to thank all colleagues for their ongoing commitment. We reiterate our commitment to maintaining an open and constructive dialogue with our shareholders and all other stakeholders,” added Buchner.

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