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AkzoNobel Net Income Falls 32% as Company Employs €500-million Restructuring Plan (updated)

2:47 PM MDT | October 24, 2011 | Alex Scott

AkzoNobel says that net income for the third quarter fell 32% from the year-ago quarter, to €148 million. Ebitda fell 12% from the year-ago period, to €507 million, with sales up 5%, to €4.1 billion. While overall top-line growth remained relatively strong, volumes continued to soften. The company also announced a €500 million ($686 million)/year cost cutting effort...

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