Analysts: AkzoNobel needs massive acquisitions to hit sales goal

10/20/2010 | Bloomberg

Dutch chemical giant AkzoNobel will likely need expensive acquisitions to fulfill its goal of achieving a 50% boost in sales, analysts said. AkzoNobel CEO Hans Wijers announced his company's direction last month, highlighting the $16 billion acquisition of U.K.'s Imperial Chemical Industries in 2008, while eying Berger Paints India. "We stay disciplined in what we pay. Our own organic growth plans get us a long way" in doubling sales to almost $20 billion, said Akzo Nobel Chief Financial Officer Keith Nichols.

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