Amsterdam, the Netherlands, October 11, 2007 - Akzo Nobel has
announced that the company intends to divest its Nobilas Claims &
Fleet solutions business to the UK-based Innovation Group.
Established as a stand-alone activity in 2004, Nobilas combines
leading car repair process management skills with claims management
and incident services. Expansion has been swift, with the business
now employing around 300 people across Europe and North America. The
business handles an annual volume of more than 300,000 repairs and
services, and the managed repairs represent a value of around EUR 190
million.
"Nobilas has grown remarkably well in a relatively short time," said
Akzo Nobel CFO Rob Frohn. "But it no longer fits in with Akzo Nobel's
strategy as Nobilas increasingly moves towards non-paint related
outsourcing activities. We believe that the Innovation Group is a
better owner for continuing what Nobilas has built up."
Added Nobilas General Manager Geoff Bullen: "Nobilas is well
positioned to take advantage of an increasing international market
trend towards the outsourcing of vehicle damage claim related
services. Operating under more focused ownership will offer better
opportunities for the business to accelerate its growth momentum and
continue into the next phase of its development."
Based in the Netherlands, Nobilas also has offices in Belgium, the
United Kingdom, France, Spain, Germany and the United States. The
majority of the business' 300 employees will be transferred to the
Innovation Group, which is headquartered in Whitely, UK, and is a
leading solution provider to the global insurance industry.
The deal is subject to consultation with relevant employee
representative bodies in various countries and is due to be completed
in the fourth quarter of 2007.
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Note to editors
Akzo Nobel is a Fortune Global 500 company and is listed on Euronext
Amsterdam. It is also the Chemicals Industry leader on the Dow Jones
Sustainability Indexes and Akzo Nobel is included on the FTSE4Good
Index. Based in the Netherlands, we are a multicultural organization
serving customers throughout the world with coatings, chemicals and
human and animal healthcare products. We employ around 62,000 people
and conduct our activities in these four segments, with operating
subsidiaries in more than 80 countries. Consolidated revenues for
2006 totaled EUR 13.7 billion. The financial results for the third
quarter will be published on October, 23, 2007.
Internet: www.akzonobel.com
Not for publication - for more information
Akzo Nobel N.V.
Corporate Media Relations, tel. +31 20 502 7833
Contact: Heleen van de Lustgraaf
