Akzo Nobel sees return to growth
By Furniture Today Staff -- Furniture Today, January 23, 2005
Amsterdam, Netherlands — Dutch corporation Akzo Nobel, which bills itself as the world's largest coatings manufacturer, finished 2004 strongly, but expects business to remain challenging in 2005.
"Akzo Nobel has become a better and stronger company over the last 12 months and is poised for a return to growth over the next few years," said CEO Hans Wijers earlier this month.
He said the supplier's strategic focus will be on targeting profitable growth opportunities around the globe, without embarking on a reckless spending spree. Wijers added the company had created financial maneuvering room by selling three chemicals businesses.
According to Reuters Estimates, the market consensus for Akzo Nobel's net profit in 2004 is 759 million euros ($1 billion) while the 2003 figure was some 740 million euros.
"We have established a more professional company over the last 12 months," Wijers said. "2005 will continue to be challenging, but we are well prepared to make this year a turning point for growth."
The company will hold a conference call on its annual results Feb. 4.
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