AkzoNobel divest decorative paints stores in Germany

AkzoNobel to divest decorative paints stores in Germany

7:37 AM, 26th June 2013
AkzoNobel to divest decorative paints stores in Germany
Werner Fuhrmann, Member of Executive Committee responsible for Specialty Chemicals, AkzoNobel.

AMSTERDAM, THE NETHERLANDS: AkzoNobel intends to divest its decorative paints stores in Germany to independent wholesale distributors. The move is intended to strengthen the performance of the company’s German Decorative Paints business by focusing its activities on the distribution and marketing of paint under brands such as Sikkens, Herbol and Consolan.

The company currently operates 72 German stores selling professional paint and third party products. The new set-up will allow AkzoNobel to select the most efficient distribution channels for its professional paint products, rather than operating its own stores. The company intends to enter into strategic partnership agreements with the future shop owners, as well as strengthening its relationship with its existing network of independent distributors.

“Germany has always been, and will remain, an important market for AkzoNobel. The company is continuing to invest in Germany. A total of €140 million is also being invested in new technology at a chemicals plant in Frankfurt, which is expected to go on stream in the first quarter of 2014,” said Werner Fuhrmann, Member of Executive Committee responsible for Specialty Chemicals and Germany, AkzoNobel.

“AkzoNobel will also be reviewing its office footprint in Germany. These improvements are intended to reduce complexity and further improve the operational efficiency of our German activities. They will boost our competitiveness and help us to greater success for our businesses in Germany going forward,” added Fuhrmann.

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