ARNHEM, The Netherlands, June 10, 2003 (PRIMEZONE) -- Akzo Nobel (Nasdaq:AKZOY) has launched a new business which manages the repair cycle of a car from the moment it is damaged until such time that it is ready to be returned to the owner. Called Nobilas, the company provides repair, accident and claim management services whilst enabling partnerships between Akzo Nobel and international motor insurance and leasing companies, as well as fleet owners worldwide.
The new business -- headquartered in the Netherlands and active in most countries in Europe and North America -- brings benefits to all parties involved in the repair cycle by removing unnecessary costs from the total value chain.
Rudy van der Meer, Member of Akzo Nobel's Board of Management responsible for Coatings, explained: "The establishment of Nobilas is clear proof of the importance we have always given to developing innovative services that enable our partners to do their work more efficiently and profitably. Nobilas has the potential to become the leading provider of effective solutions in all areas of accident management services."
Cor de Grauw, General Manager of Akzo Nobel Car Refinishes added: "Because of Akzo Nobel's extensive knowledge in the car repair and automotive industry, as well as some very successful accident management businesses we have initiated in the past, we saw an opportunity to connect all parties involved in the accident management process. In order to operate as a separate company which has its core focus on generating an efficient value chain, we decided to establish Nobilas."
"Nobilas works with highly professional staff, using the latest technology solutions and an extensive network of best-in-class body repair shops," continues De Grauw. "The staff is formed by a multidisciplinary team of specialists who where carefully selected from the international fleet, lease and insurance markets. We are now in the process of establishing strategic agreements with several global partners."
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2002 totaled EUR 14 billion. The Company currently employs approximately 67,500 people in more than 80 countries. Financial results for the second quarter will be published on July 18, 2003.
Internet: www.akzonobel.com
Not for publication - for more information Akzo Nobel N.V., Marc Michelsen, Manager Corporate Communications, tel. +31 26 366 4343
Safe Harbor Statement(a)
This press release contains statements, which address such key issues as Akzo Nobel's growth strategy, future financial results, market positions, product development, pharmaceutical products in the pipeline, and product approvals. Such statements should be carefully considered and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to price fluctuations, currency fluctuations, developments in raw material and personnel costs, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more complete discussion of the risk factors affecting our business please refer to our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission.
(a) Pursuant to the U.S. Private Securities Litigation Reform Act 1995.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/06/10/20030610BIT00140/wkr0001.doc
http://www.waymaker.net/bitonline/2003/06/10/20030610BIT00140/wkr0002.pdf