Analyst Research

Report Title Price
Provider: ValuEngine, Inc.
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: Reuters Investment Profile
$20.00
Provider: Ford Investor Services, Inc.
$12.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Akzo Nobel NV to Streamline Structure and Office Footprint in Germany


Monday, 9 Sep 2013 02:01am EDT 

Akzo Nobel NV announced that it has informed employees of its intention to streamline its organizational structure in Germany. The proposals involve reducing the number of office locations from eight to three by the summer of 2014. The three offices will be based in Cologne, Hamburg and Stuttgart. The Company's main offices in Germany will be sited at a new location in Cologne, providing workspaces for around 250 people. Sales offices in the north and south of the country will be consolidated in Hamburg and Stuttgart. The Company expects to have completed the move by summer 2014. The Company has already announced plans of its Decorative Paints business in Germany to divest its network of over 70 stores for professional painters and to sell its Building Adhesives business to Sika AG. When completed, these developments will result in a reduction of more than 25% in the total number of personnel employed by the Company in Germany to approximately 2,600.