IHS Chemical Week

People & Business :: Earnings/Finance

AkzoNobel to purchase annuities for US retiree pension obligations

9:52 AM MST | December 18, 2013 | Lindsay Frost

AkzoNobel announced today that it has agreed to transfer pension obligations for current US retirees to MetLife Insurance. The company says the annuity purchase is expected to reduce AkzoNobel’s US pension obligations by 65%, or $655 million of the total US pension plan. AkzoNobel says it has made a $170-million contribution to the plan to maintain its funded status. "Part of our strategy is to derisk pension liabilities over time," says AkzoNobel CFO Keith Nichols. "This transaction will improve the company's financial health by...

This information is only available to Chemical Week subscribers.


Forgot your user ID or password?
Click here to have it sent to you.

Not an IHS Chemical Week subscriber yet?

Here's why you should be:

  • 31 issues of Chemical Week magazine a year in print or digital format
  • Real time news and analysis on chemweek.com 
  • 20+ years of online archives
  • Topical e-newsletters that capture the most impactful events
  • Special issues with a regional or company focus
  • Global Outlook issue

Subscribe now


contact us | about us | privacy policy | sitemap

ihsCopyright © IHS, Inc.All rights reserved.Reproduction in whole or in part without permission is prohibited.

North Asia Russia Southeast Asia China India/Pakistan Middle East Eastern Europe Western Europe Central America Canada USA Australia/New Zealand South America Africa