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Automotive and Aerospace Coatings

Automotive and Aerospace Coatings had a good start to the year, with revenue increasing 14 percent over 2010, supported by currencies and acquisitions, but mainly due to higher volumes. Volumes in our vehicle refinishes segment in Asia showed a strong increase supported by the acquisition of Changzhou Prime Automotive Paint Co., Ltd. In North America, vehicle refinish volumes increased as a result of newly won contracts, while in Western Europe vehicle refinish volumes remained flat. Our commercial vehicle OEM business continued its strong performance, with improved volumes mainly being driven by high demand in the US and Brazil. Our Automotive Plastic Coatings business benefited as car production rates increased. Aerospace Coatings also reported a strong first quarter, with the rise in volumes being mainly attributable to increased demand from Airbus and Boeing. Operating costs have increased, partly as a result of acquisitions and partly due to investments made in high growth markets. Toyota Motor Europe (TME) became the first global automotive manufacturer to offer stickerfix, our innovative DIY repair solution for minor paint damage to road cars.

Copyright © 2011 Akzo Nobel N.V.