AkzoNobel income increases owing to efficiency programme

By Kasia Patel
Published: Tuesday, 21 October 2014

Though other companies have been reporting an increase in paints and coatings demand, AkzoNobel attributes its positive results to cost cutting and restructuring in the business. It added that market conditions remain challenging – a view that will be disappointing for raw materials producers to the industry such as rutile, ilmenite and TiO2, which have been waiting for conditions to rebound.

Dutch paints manufacturer AkzoNobel saw its third quarter operating income increase by 11% as the company continues to roll out its efficiency programme, however revenue dipped 2% as conditions remain challenging, the company said today.

Operating income for Q3 2014 increased to €335m ($426m*), which AkzoNobel said reflected the benefits...

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