Akzo Nobel looks to US market
AKZO NOBEL, the Dutch pharmaceuticals and chemicals group, is looking to North America to provide the growth for its veterinary products group.
Its veterinary arm is already showing robust growth at four times the industry average of 6% a year, according to a report in the Financial Times.
It is also highly profitable. It contributes only 19% of group sales but makes 38% of operating profit.
Akzo paid 665 million (£421m) for Hoechst Roussels Vet division, which merged with the groups Intervet in August to create the worlds third largest veterinary products group.
This deal increased Intervets exposure in the USA, which, according to Akzo chairman, Cees van Leede, is “where the future is going to be”.
- EC delays Akzo Nobel decision, FWi, 15 October, 1999
- Akzo buys vet outlet from Hoechst, FWi, 12 August, 1999
- Financial Times 25/11/99 page 31