After three years of institutional restructuring, AkzoNobel intends to spin off its pharmaceutical business as an independent company and the coatings and chemicals business will remain. Akzo Nobel CEO Hans Wijers said last week that the company is making the necessary preparations in the near future.
According to reports, the new company's business mainly includes pharmaceuticals, veterinary drugs, fine chemical synthesis, and vaccines. Its sales in 2005 were US$4.4 billion, accounting for 27% of AkzoNobel’s sales of US$16.2 billion. The pharmaceutical company is expected to complete the listing process in the second half of this year. Akzo Nobel will sell all its shares in the pharmaceutical company in 2 to 3 years and achieve a complete separation between the two companies.
In recent years, AkzoNobel has taken various measures to enhance the competitiveness of the pharmaceutical sector, which has enabled the pharmaceutical business to start growing, the cost has been greatly reduced, the sales channel has been unimpeded, and the timing of business separation has gradually matured. Hans Wijers is optimistic about the development space of the new company. He believes that the future of the pharmaceutical industry is not just a large pharmaceutical company.
Akzo Nobel's coatings and chemicals business accounted for 43% and 30% of the company's total business volume in 2005, and the current development trend is good. After mergers and acquisitions, AkzoNobel's coating business has ranked first in the world.
The Chinese market is the focus of AkzoNobel. At present, the number of employees in the Chinese Coatings Department is the highest in all countries in the world. In addition, after 18 months of strategic adjustment, AkzoNobel has reclassified its chemical business.
According to reports, the new company's business mainly includes pharmaceuticals, veterinary drugs, fine chemical synthesis, and vaccines. Its sales in 2005 were US$4.4 billion, accounting for 27% of AkzoNobel’s sales of US$16.2 billion. The pharmaceutical company is expected to complete the listing process in the second half of this year. Akzo Nobel will sell all its shares in the pharmaceutical company in 2 to 3 years and achieve a complete separation between the two companies.
In recent years, AkzoNobel has taken various measures to enhance the competitiveness of the pharmaceutical sector, which has enabled the pharmaceutical business to start growing, the cost has been greatly reduced, the sales channel has been unimpeded, and the timing of business separation has gradually matured. Hans Wijers is optimistic about the development space of the new company. He believes that the future of the pharmaceutical industry is not just a large pharmaceutical company.
Akzo Nobel's coatings and chemicals business accounted for 43% and 30% of the company's total business volume in 2005, and the current development trend is good. After mergers and acquisitions, AkzoNobel's coating business has ranked first in the world.
The Chinese market is the focus of AkzoNobel. At present, the number of employees in the Chinese Coatings Department is the highest in all countries in the world. In addition, after 18 months of strategic adjustment, AkzoNobel has reclassified its chemical business.
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