Nobel eyes China sales to double
By Richard Fu |
April 8, 2011, Friday
|
Print Edition
Print Edition
AKZO Nobel NV, the world's biggest paint maker, is eying the "mid-market" segment and "selected acquisitions" to support its plan of doubling China sales, Chief Executive Officer Hans Wijers said.
"So far we have been growing mainly with the high end markets," Wijers said. "The new challenge is to develop products that are geared to the fast growing middle class in China."
The Dutch company, which supplies shipbuilders, industrial customers and households, has set a five-year plan to double China sales to US$3 billion by 2015.
While most of the sales expansion will come from organic growth, Akzo is also looking at certain acquisitions to grow rapidly in specific segments, Wijers said in an interview at the firm's research laboratory on the outskirts of Shanghai yesterday.
"So far we have been growing mainly with the high end markets," Wijers said. "The new challenge is to develop products that are geared to the fast growing middle class in China."
The Dutch company, which supplies shipbuilders, industrial customers and households, has set a five-year plan to double China sales to US$3 billion by 2015.
While most of the sales expansion will come from organic growth, Akzo is also looking at certain acquisitions to grow rapidly in specific segments, Wijers said in an interview at the firm's research laboratory on the outskirts of Shanghai yesterday.
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