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Industrial Coatings

Industrial Coatings revenue was up 11 percent mainly due to higher volumes, pricing actions, and acquisition impact, offset by negative currency effect. The main drivers of the growth have been the Lindgens acquisition as well as Packaging Coatings market share gains in Europe and Asia. Coil Coatings increased its revenue base due to volume and price increases. Specialty Plastics saw lower volumes and revenue mainly as a result of low revenue in Asia. Coil Coatings construction-related business showed good volume and revenue development in high-growth markets, while the mature markets – in particular Western Europe – lost volume. Specialty Plastics has seen a revenue drop in Asia, in its business segments of Wireless and IT, while the Automotive segment has increased its revenue. Packaging Coatings beverage and food-related business has shown a very strong increase in its volume and revenue compared to prior year, mainly coming from Europe and Asia. AkzoNobel announced its intention to acquire coatings manufacture Schramm Holding AG and the coatings activities operated by Schramm’s largest shareholder, Korean company SSCP, which will enable us to strengthen our global leadership position in specialty plastics coatings.

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