AMSTERDAM (dpa-AFX) - Akzo Nobel N.V. (AKZOY.PK, AKZOY), a Dutch maker of paints and performance coatings, said that it is undertaking a strategic review of its portfolio to redirect capital towards expanding its core coatings operations.
The company noted that the initial focus will be on its decorative paints segment in South Asia, where the company has established a premium, highly profitable presence, particularly in India, backed by a solid growth track record. This unique market position positions AkzoNobel to capitalize on the evolving and dynamic South Asian decorative paints market, which is primed for consolidation. The review will consider various strategic options, including partnerships, joint ventures, mergers, and divestments.
Last week, Akzo Nobel announced its plan to reduce around 2,000 positions globally as part of its steps to reduce cost and to enhance the efficiency of its functions.
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