Dutch specialty chemicals supplier AkzoNobel is targeting growth in Southeast Asia, specifically Vietnam and Indonesia, as growth slows in China, according to a report published in Indonesia Investments.
CEO Tom Büchner is said to be planning to reduce investment realization in China in favour of new growth markets. The company is seeking out markets that are experiencing robust economic growth, with a large population and high levels of construction – India, Vietnam and Indonesia all fit those criteria.
AkzoNobel delivered a solid performance in Q2 2015, with efficiency drives contributing to a 38 percent uplift in operating income to €486 million and favorable currency effects driving revenue up 6 percent to €3.9 billion.
“We continue to deliver on our aim to improve the performance of our company. This will position us well to make the most of the future opportunities and growth. The second quarter continued to show the positive impact of our focus on profitability,” said Büchner.