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Akzo to Slim Down Coil Coatings Unit and Create Strategic Hubs

Nov. 21 (Bloomberg) -- Akzo Nobel, Europe’s largest paintmaker, plans to cease production of coil coatings at two sites as Chief Executive Officer Ton Buechner pushes ahead with plans to create more cost-effective manufacturing hubs.

Production of coil coatings will be terminated in Gamleby, Sweden and Nurnberg, Germany by mid-year 2015, the Amsterdam-based company said today. Manufacturing will be concentrated at another site in Germany, and two others in Sweden and Russia.

About 280 employees will be affected by the measures, Akzo said.

To contact the reporter on this story: Andrew Noel in London at anoel@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

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