Akzo Nobel Car Refinishes to Restructure

Akzo Nobel Car Refinishes to Restructure Arnhem, the Netherlands, July 1, 2004 - Akzo Nobel Car Refinishes has announced a major restructuring plan in order to improve its performance. The focus will be on realigning the business with changing market conditions. The proposed measures, which will be carried out during 2004-2006, involve the reduction of an equivalent of approximately 600 full-time jobs, or 10% of the global workforce. Most regions of the world will be affected. Discussions with all relevant parties about the restructuring plans have started. By using socially responsible methods, Akzo Nobel Car Refinishes intends to limit forced redundancies as much as possible. Akzo Nobel Car Refinishes is aiming to make most of the decisions this year. - - - Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2003 totaled EUR 13 billion. The Company currently employs approximately 64,300 people in more than 80 countries. The financial results for the second quarter will be published on July 19, 2004. Akzo Nobel Car Refinishes supplies paint, decals, services and software for car repair, commercial vehicle and automotive markets. The main brands include Sikkens® and Lesonal® in car repair, and Sikkens Autocoat® BT in commercial vehicles Automotive plastic interior and exterior components customers are also served under Akzo Nobel Car Refinishes. Sales for 2003 of all activities totaled EUR 880 million Internet: www.akzonobel.com; www.carrefinishes.com Not for publication - for more information Akzo Nobel N.V. Corporate Media Relations, tel. +31 26 366 4343 Contact: Marc Michelsen Tel +31 26 366 43 43 Safe Harbor Statement* This press release may contain statements which address such key issues as Akzo Nobel's growth strategy future financial results, market positions, product development, pharmaceutical products in the pipeline, and product approvals. Such statements should be carefully considered and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more complete discussion of the risk factors affecting ou business please refer to our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission. A copy of which can be found on the Company's website. Fax +31 26 366 49 40 * Pursuant to the U.S. Private Securities Litigation Reform Act 1995. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/07/01/20040701BIT20220/wkr0001.pdf Pressmeddelandet som pdf