Akzo Nobel N.V., listed as AKZOY.PK and known as a leading Dutch producer of paints and performance coatings, has disclosed plans to conduct a strategic review of its portfolio. This review aims to reallocate capital and intensify its investment in expanding its primary coatings business.
The company's initial strategic emphasis will be on its decorative paints sector in South Asia. Akzo Nobel has already established a premium and highly profitable presence in this region, particularly in the Indian market, underpinned by a strong history of growth. This distinctive market positioning allows Akzo Nobel to seize opportunities within the progressing and rapidly changing South Asian decorative paints arena, which is currently poised for consolidation. The strategic review will explore an array of options such as partnerships, joint ventures, mergers, and divestitures.
In recent developments, Akzo Nobel has also revealed plans to reduce its workforce by approximately 2,000 roles worldwide. This move is part of their ongoing efforts to cut costs and improve operational efficiency.
