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Akzo sales, income decline.

Akzo Sales, Income Decline

Akzo, the Dutch chemical giant, had a decrease in both sales and earnings in 1990. Sales decreased 8% to NLG 17.2 billion, compared with NLG 18.7 billion in 1989. Net income dropped even more precipitously, to NLG 663 million in 1990, a 31% drop from 1989's figure of NLG 954 million. The company attributed the earnings drop to the general economic downturn, the lower U.S. dollar and higher oil prices. It also said that it expects these conditions to continue to adversely affect the company's performance in 1991.
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Title Annotation:International News; Akzo Chemie B.V.
Publication:Nonwovens Industry
Date:Apr 1, 1991
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