Akzo Nobel and Origin Reach Agreement On Sale of Akzo Nobel Information Services.ARNHEM, the Netherlands--(BUSINESS WIRE)--July 23, 1999-- Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. N.V. announced today that it has reached an agreement with Origin B.V., Eindhoven, the Netherlands, on the sale of Akzo Nobel Information Services See Information Systems. (AIS). AIS will become part of the Origin global industry sector Process Industries & Life Sciences. The partnership covers all current AIS activities and all its 700 employees in Europe, North America, and Asia Pacific. Dutch trade unions have agreed with the deal and the works councils have advised positively. "Akzo Nobel recognizes the strategic importance of information technology (IT) for its business. We were looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a partner offering the scale and high-level expertise required to further improve the price/performance ratio of the IT services to our business units," said Paul K. Brons, member of the Board of Management of Akzo Nobel responsible for IT in the release announcing the intention to cooperate. "We are very pleased to welcome AIS as part of our organization. This agreement emphasizes our continuous effort to grow in strategic areas like the process industry. Akzo Nobel made a positive choice by creating the basis for a dynamic and long-lasting relationship built on clear commitments and mutual trust. The agreement with Akzo Nobel is strong evidence of Origin's positioning as a global top supplier of complete IT services," says Robert E. Pickering, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Origin. "The partnership with Origin is our next step on the road of continuous improvement and it underscores our ambition to be a qualified IT service provider to the process industry. As part of Origin we can offer an even stronger proposition," says Sip Reintsema, General Manager of Akzo Nobel Information Services. "In combination with Origin's existing service agreements with major companies in the process industry, we provide significant and unique knowledge and skills. We understand the dynamics of the industry and are deeply involved in the strategic issues IT is enabling." Note for the editor: Origin B.V., headquartered in Eindhoven, the Netherlands, provides a full spectrum of information technology services for global corporations and other complex "extended enterprises" through operations in 32 countries around the world with a staff of over 17,000. Origin's customers include over 100 of the world's Fortune 500 firms. Origin is a member of the Royal Philips Electronics group of companies. Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals and fibers. The fibers business, now known as Acordis, will be demerged. The company currently employs approximately 86,000 people in almost 70 countries. As of 1999 the Euro is Akzo Nobel's external reporting currency Reporting Currency The currency used in published reports and financial documents. Notes: All annual and quarterly reports state the currency in which their results are listed. . Consolidated sales for 1998 totaled EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 12.5 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 13.8 billion). Financial results for the second quarter of 1999 will be announced on July 28. In North America approximately 10,000 people in more than 125 locations are employed by the company, which has U.S. headquarters in Chicago. Most of Akzo Nobel's global businesses are present in North America. The company has annual sales of approximately $ 3 billion. Akzo Nobel's American Depositary Receipts American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. (ADRs) are traded on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on under the AKZOY symbol. Internet: http://www.akzonobel.com http://www.origin-it.com |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion