in this issue
Regions :: Western Europe :: Netherlands
AkzoNobel swings to a net loss on decorative paints impairment charge
October 18, 2012 | Sotirios Frantzanas
AkzoNobel reported a net loss of €2.38 billion ($3.12 billion) in the third quarter of 2012, compared with net profit of €149 million in the third quarter of 2011. The net loss is the result of a noncash impairment charge of €2.48 billion, against the assets of AkzoNobel's decorative paints business, primarily in Europe, the company says. The impairment charge follows a balance sheet review by the company, which took into account lower expected market growth rates, AkzoNobel says. Sales in the third quarter of 2012 increased 6% compared with...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee