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Powder Coatings

Performance was strong in 2010, with volume levels up in all businesses and markets. Revenue increased 40 percent, mainly due to the acquired powder coatings activities (20 percent) and favorable currencies. Raw material increases put pressure on margins in all sectors, but margin management initiatives and restructuring activities in mature markets partly offset this effect. Asia and Eastern Europe had another year of outstanding performance, with double digit growth driven by volume. In the Americas, we not only profited from the acquired powder coatings activities, but the underlying business also showed a strong improvement. In Western Europe, we experienced a solid recovery and were close to double digit growth. The acquired activities contributed greatly to our performance in 2010. All markets showed improvement over the previous year, with our General Industrial, Furniture and Automotive activities showing the strongest performance. The integration of the acquired powder coatings activities is proceeding according to plan and we have announced the closure and downsizing of a number of manufacturing sites in Europe and China.

Revenue in Q4 was up 53 percent over last year, mainly as a result of the acquired powder coatings activities (32 percent) and improved business activities. In Q4 we announced plans for a new manufacturing site in Monterrey, in order to strengthen our position in the rapidly growing Mexican market. Plans have also been finalized for the construction of a new research and development laboratory in Izmir, Turkey. Our commitment to powder coatings in China was highlighted in October when the sixth production facility in the country was opened. Located in the Wuhan Economic and Technological Development Zone, this new site boosts the ability to meet market needs and also geographic spread in China. New sales teams and offices have been established in NanNing and LiuZhou in order to exploit the growing architectural, industrial and automotive markets in the GuangXi region.

Copyright © 2011 Akzo Nobel N.V.