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Bringing ‘Tomorrow’s Answers Today’ to Treasury

An Interview with Peter van Rood, Group Treasurer, AkzoNobel

AkzoNobel is one of the world’s leading industrial companies. Headquartered in Amsterdam, the Netherlands, the company is the largest paints and coatings company globally and a major producer of speciality chemicals. The company employs 58,000 staff based in more than 80 countries. In 2008, revenues totalled EUR15.4bn and in 2009, EUR13.9bn, signifying strong performance during difficult economic conditions.

Over recent years, the company has undergone considerable change and expansion. Although the different parts of the business have a long and distinguished history, AkzoNobel itself was formed from the merger of Akzo and Nobel Industries in 1994. Since then, the company has been engaged in a series of acquisitions, most notably Courtaulds in 1998 and Imperial Chemical Industries Plc (ICI) in 2008. Organon BioSciences NV was sold to Schering-Plough Corporation in 2007. The latter two portfolio changes resulted in a much wider geographical spread, with some 40% of earnings being realised in emerging markets.