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Wood Finishes and Adhesives

Revenue increased 24 percent over the previous year. This was mainly due to a positive currency effect coupled with increased demand across all market segments. Asia reflected the strongest volume growth in the quarter driven largely from the US furniture markets and growth of the China domestic business. While the rebound of our markets is underway we remain below pre-recessionary volume levels. The recovery of the housing markets in most regions is still lagging. In Europe the recovery is mixed within markets and varies by country, with Turkey rebounding the quickest. The Americas show slow steady improvement in volumes. The Adhesives and Board Resins business was less impacted from the economic recession as volume has continued to run ahead of previous year. The restructuring and cost reduction initiatives implemented in previous years have resulted in a lower structural cost base for our business. In Vietnam the construction of a new manufacturing facility is underway to further support our growth in the region.

Copyright © 2010 Akzo Nobel N.V.