AkzoNobel Announces Further Cost Savings Given Macroeconomic Uncertainties

AkzoNobel is a pure-play paints and coatings company. It is the third-largest company in the industry, behind Sherwin-Williams and PPG Industries. The company divides itself into decorative paints and performance coatings. Decorative paints are applied to external and internal buildings for cosmetic appeal and are essentially consumer products where brands are important. In contrast, performance coatings are primarily functional products used in a wide variety of industrial end markets such as automotive, aerospace, oil and gas, marine, and packaging.