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Letter to the Editor
Friday September 10
Akzo Nobel Sees $1 Billion in China Sales in 5 Years
Dutch chemicals group Akzo Nobel NV, based in the Netherlands, is anticipating a 24 percent increase in sales in China, which translates to more than $600 million in 2004. The largest coatings producer in the world wants to hit the $1 billion mark in China's rapidly industrializing economy by the end of the next five years.While continuing the company's adherence to overall cost-cutting in the last few years, Akzo Nobel has actively sought out growth markets to make up for a sales slowdown in its pharmaceuticals business.
So far, after opening two coatings plants near Beijing and Shanghai in July, Akzo Nobel operates eight production plants in China.
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