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Akzo Predicts 2008 Will Prove a ‘Testing Environment’

4:14 PM MST | March 10, 2008 | Chemical Week Editorial Staff

“Ongoing pressure created by raw material prices, volatility in major currencies, and a slowdown in overall growth in North America and Europe will make for a testing environment” this year, Akzo Nobel says. However, Akzo says it is on track to further improve its bottom line. The integration of ICI, which Akzo bought for £8.1 billion ($16.1 billion) in January, is “progressing well” and is projected to deliver savings of €280 million ($429 million)/year, Leif Darner, Akzo board member responsible for chemicals, tells CW. The...

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