AkzoNobel has announced that it will hold an investor update on April 19 to outline plans for the creation of two focused businesses and enhanced long-term value creation. The Dutch specialty chemicals supplier will also unveil its first quarter results on the same day.
The announcement strongly suggests that AkzoNobel has no intention of submitting to pressure to sell – despite pressure from shareholders and rumors that PPG is preparing a second bid for the company.
“We have, during recent years, achieved record performance levels for AkzoNobel in terms of profitability and a range of operational measures, generating value for shareholders. We are delivering on our commitments. AkzoNobel is now a leaner, more agile company with a solid financial and operational foundation and a focus on accelerating growth,” said Ton Buchner, CEO.
“Our new strategy will further unlock the value within the company, including the creation of two focused businesses. We are convinced we have a strong platform to build further on our leadership positions to deliver improved profitability and additional long-term value creation for shareholders, employees, customers, the communities where we operate and other stakeholders.
“We are best placed to deliver these plans ourselves, building on the existing momentum we have within the company. We look forward to sharing more details on our vision of the future for AkzoNobel.”