Akzo Nobel: Further declines in wood coatings activities

In the third quarter of 2011 the Dutch chemicals group Akzo Nobel again recorded a 2% decline in turnover to €197m (July-Sept. 2010: 201m) in its wood finishes and adhesives business unit, despite having implemented price increases. The company considers this decline to be due in the first place to negative currency effects and lower sales volumes in North America which also imposes an indirect strain on the export-oriented activities in Asia. Furthermore, in the third quarter the sales volumes in some European sales markets deteriorated after a generally stable development had been reported in these areas until the end of the first six months of the year.