AkzoNobel Explores Strategic Options for South Asia Decorative Paints

Oct 04, 2024

AkzoNobel, the Dutch paint manufacturer, is evaluating strategic options for its decorative paints business in South Asia. This move includes potential partnerships, mergers, or asset sales, as part of a broader strategic review.

The company's recent performance has been disappointing, prompting a plan to cut 2,000 jobs worldwide, about 5.6% of its workforce. This decision aims to manage costs and streamline operations effectively.

The strategic review will commence with an assessment of the asset portfolio in South Asia, where AkzoNobel believes the decorative paints market has matured and is ripe for consolidation. The company emphasizes the strong profitability of its operations in India.

According to CEO Greg Poux-Guillaume, the goal of this strategic review is to reallocate capital to enhance growth in AkzoNobel's core coatings business.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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