Alex Lever

News: AkzoNobel performance improvement program

October 20, 2011 by Alex Lever
AkzoNobel performance improvement program

AkzoNobel has come with a performance improvement program to strengthen its competiveness, improve its ability to grow, simplify its support structures and lower its cost base. The program will rearrange underperforming parts of the portfolio, transfer best practices and standardize, as well as simplify key processes.

The Executive Committee (ExCo), which was established on January 1, 2011, has defined a comprehensive three-year plan to improve the company’s performance and deliver €500 million EBITDA. Twenty master plans with over 100 detailed initiatives have been developed in the areas of Supply Chain and Sourcing; Research and Development; Shared Services for Finance; Information Management; and Human Resources.

The program also includes business restructuring; for example, in Decorative Paints Europe and North America and in Performance Coatings’ Wood Finishes and Adhesives business. Company-wide programs to further improve margin management capabilities – as well as employee recruitment and training, particularly in high growth markets – are also being rolled out.

Approximately 40 percent of the anticipated benefits will come from the Supply Chain and Sourcing programs, and a further 50 percent from margin management, Research and Development initiatives, and business restructuring programs. These benefits will accrue across AkzoNobel’s business areas, with more than 40 percent of the benefits in Decorative Paints, more than 30 percent in Performance Coatings and close to 25 percent in Specialty Chemicals. The benefits expected in 2012 amount to €200 million, with a similar level of incidental costs in the same year. The total costs to deliver the program are estimated to be €425 million.

Add a Related Photo | Add a Related Video 

No Comments - Share Your Thoughts

Leave a comment

You must be logged in to post a comment.

More AkzoNobel performance improvement program Information:

  1. New superyacht Wally 110 under construction at Wally

    News: New superyacht Wally 110 under construction at Wally

    October 28, 2014 by black

    Luxury yacht Wally 110 is a striking 110-foot sloop, signed last June. Her mould has been recently completed. The lamination procedures have started, and will be finished at the beginning …

  2. Rob Doyle Design unveiles 46m (150') superyacht concept
    Alex Lever

    News: Rob Doyle Design unveiles 46m (150′) superyacht concept

    October 23, 2014 by Alex Lever

    Hull and Deck Styling and Design The Rob Doyle designed/styled hull package combines a very powerful performance hull with good sea keeping qualities, combining speed and comfort. This is achieved …

  3. New BMT Nigel Gee superyacht Project L3 to be launched at MYS 2014

    News: New BMT Nigel Gee superyacht Project L3 to be launched at MYS 2014

    September 23, 2014 by black

    A number of propulsion options have been investigated from a conventional system for 20 knot performance to a hybrid CODAG system delivering over 40 knots. The semi-SWATH catamaran resulting from …