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Wood Finishes and Adhesives

Demand continued to improve in the third quarter across the majority of market segments and regions, with volumes up on last year. Revenue increased 13 percent over 2009, partly due to favorable currencies. The high growth markets in Asia and solid performance of the Adhesives business across all regions also contributed to the revenue growth. The wood volumes in Asia – which still rely heavily on exported furniture to the US – grew modestly over the previous year, with some assistance from further penetration of the Chinese domestic furniture market. Turkey experienced double-digit volume growth in the quarter over 2009, while most parts of Central and Eastern Europe also grew. The wood business in the Americas continued to suffer from the weak US housing market. 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.