Heerlen, the Netherlands -- AkzoNobel is to create a stand-alone Wood Finishes and Adhesives business and restyle its Industrial Coatings business, saying it wants more balance between its performance coatings and speciality chemicals portfolios.
As well as launching these two new coatings business units the company will merge its Polymer Chemicals activities into the Functional Chemicals organisation. The moves will be complete by 1 Jan 2010, said Akzo Nobel's 10 Sept statement.
Wood Finishes and Adhesives will consist of the company's current wood finishes and wood adhesives activities, "bringing more focus to this significant market," said the company.
Industrial Coatings will be made up of the present Packaging Coatings, Coil Coatings and Specialty Plastics operations: this is "a more logical combination of AkzoNobel's industrial OEM businesses," the group added.
Also, AkzoNobel will transfer its Aerospace Coatings from Marine and Protective Coatings to Car Refinishes, a move which will allow the aerospace/automotive units to benefit from "inherent technology and supply chain synergies."
As part of these changes Bob Taylor - currently managing director of Industrial Finishes - becomes managing director of Marine and Protective Coatings, succeeding Bill McPherson, who is due to retire in April 2010. John Wolff (currently general manager of the Coil Coatings business) will become managing director of the new Wood Finishes and Adhesives business, while Conrad Keijzer (currently managing director of Packaging Coatings) will be managing director of the new Industrial Coatings business.
AkzoNobel said the aim of merging the two chemicals units is to create a stronger, more cost-efficient business better equipped to sustain future growth. Bob Margevich will continue in his role 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 to be responsible for the Polymer Chemicals business until the end of 2009. Kwek, who has been with the company for more than 20 years, has announced that he will then leave AkzoNobel to return to Singapore.
Relevant employee organisations will be consulted as appropriate, the company added.