Akzo Nobel N.V., stylised as AkzoNobel, is a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide. Headquartered in Amsterdam, the company has activities in more than 150 countries. AkzoNobel is the world's third-largest paint manufacturer by revenue after Sherwin-Williams and PPG Industries.[2][3]
History
AkzoNobel has a long history of mergers and divestments. Parts of the current company can be traced back to 17th-century companies.[4]
History and formation of Akzo
Akzo was formed in 1969 as merger of Algemene Kunstzijde Unie (General Artificial Silk Union; AKU) and Koninklijke Zout Organon (Royal Salt Organon; KZO).[5]
The AKU was formed in 1929 when the Vereinigte Glanzstoff-Fabriken (est. 1899) and Nederlandse Kunstzijdefabriek (ENKA, est. 1911) merged, forming Algemene Kunstzijde Unie (AKU). The latter faced, amongst others, technical problems in the manufacturing of synthetic fibers. Its founder, Jacques Coenraad Hartogs, turned to Dutch industrialist Rento Hofstede Crull for a solution for which Hofstede Crull provided the answer. They created a joint venture, the NV I.S.E.M., whose successes and profits laid the foundation for the ENKA's subsequent acquisitions and mergers and which was eventually absorbed by the AKU in 1938.[6]
The other part of the merger, the KZO, was formed when Koninklijke Zout Ketjen merged with Koninklijke Zwanenberg Organon in 1967. The former was itself a merger of Koninklijke Nederlandse Zoutindustrie (KNZ) and Ketjen. The KNZ was formed in 1918 by Ko Vis as a salt producing company; a business that to this day plays an important role in AkzoNobel's activities.[5] The other part, Koninklijke Zwanenberg Organon, was formed when Zwanenberg's Fabrieken (est. 1887), a meat export factory based in Oss merged with Organon, a pharmaceuticals company founded by Saal van Zwanenberg, also in Oss.[7]
After the merger of AKU and KZO, Akzo made a number of other critical acquisitions; Armour and Company in 1970,[8] Levis Paints in 1985, specialty chemicals division of Stauffer in 1987 and divested its polyamides and polyesters plastics engineering business to DSM in 1992. In 1993, Akzo formed a joint venture with Harrisons Chemicals (UK) Ltd a subsidiary of Harrisons & Crosfield.[9]
AkzoNobel formation
In 1994 Akzo and Nobel Industries agreed to merge, forming Akzo Nobel, with the new combined entity having 20 business entities a number of divestments were made: Nobel Chemicals, Nobel Biotech and Spectra-Physics. In 1995 the PET resins business was sold to Wellman, Inc.. In 1996 the group sold the crop protection business to Nufarm. In 1998 the company acquired industrial coatings and in synthetic fiber company Courtaulds, later divesting Courtaulds industrial coatings and Daejen Fine Chemicals. Courtaulds was merged with Akzo Nobel Fibres forming Acordis, which in December 1999 was divested to CVC Capital Partners and then to be sold in 2000 to Teijin. Also in 1999 AkzoNobel acquired the pharmaceutical business of Kanebo.[10]
In the early 2000s the company began another waive of divestitures, first in 2000 with its stake in Rovin's VCM and PVC business to Shin-Etsu Chemical. In 2001 divests ADC optical monomers business to Great Lakes Chemical, in 2002 its printing inks business, in 2004 its catalyst business to
Acquisition of Imperial Chemical Industries (ICI)
In 2008 AkzoNobel acquired British Imperial Chemical Industries (ICI) for $15.8 billion.[14]
ICI can trace its history back to four British-based chemical companies; British Dyestuffs Corporation, Brunner, Mond & Company, Nobel Explosives and the United Alkali Company.[15] which merged in 1926, forming ICI. A year later, the newly merged entity employed over 33,000 employees in five main product areas: alkali products, explosives, metals, general chemicals, and dyestuffs. In 1933 the company developed polyethylene, which is later patented and sold as an insulating material. In 1986 focusses to paint and specialty products with the purchase of Beatrice's Chemicals Division and Glidden Paint.[16]
Attempted acquisition by PPG Industries
In March 2017, PPG Industries launched an unsolicited takeover bid of €20.9 billion, which was promptly rejected by AkzoNobel's management.[20] Days later, PPG again launched an increased bid of €24.5 billion, which was again rejected by AkzoNobel's management.[21] A number of shareholders urged the company to explore the offer and subsequent negotiations.[22][23] In April, activist investor, Elliot Investors' called for the removal of Chairman Antony Burgmans following Akzo's refusal to submit to discussing with PPG. Elliott, which has a 3.25% stake in the company, claimed it was one of a group of investors that met the Dutch legal threshold of 10% voting-share support, which is needed to call an extraordinary meeting to vote on a proposal to remove Burgmans.[24] On 13 April, Templeton Global Equity said it was among another group of investors calling for an extraordinary meeting of AkzoNobel shareholders to discuss Burgmans continued tenure as Chairman.
Recent
The company AkzoNobel is focused on paints and coatings. On October 9, 2018 Specialty Chemicals was re-branded as a new company, Nouryon, after acquisition by the Carlyle Group.[41]
International Paint Limited, owned by AkzoNobel were fined £650,000 and ordered to pay costs of £144,992 in a prosecution brought by the Environment Agency for allowing the banned highly toxic chemical tributyltin to be released into the river Yealm estuary at Newton Ferrers.[42]
In November 2025 it was announced that AkzoNobel would merge with Axalta.[43][44]
Organization
Due to high revenues from the sales of its pharmaceutical business, AkzoNobel was the world's most profitable company in 2008.[45]
Decorative paints
AkzoNobel markets their products under various brandnames such as Dulux, Sikkens, International and Interpon.[46]
Performance coatings
AkzoNobel is a leading coatings company whose key products include automotive coatings, specialised equipment for the car repair and transportation market and marine coatings. The coatings groups consist of the following business units:[47]
Turnover and profit history
See also
- Herbol, an industrial coating brand by AkzoNobel
- Twaron, trade name of aramid synthetic fiber
- Teijin Aramid, producer of Twaron, former AkzoNobel company
- GLARE, composite material patented by AkzoNobel
- List of companies in the Netherlands
- List of companies of Sweden