Akzo has devised a major reorganization plan expected to increase the company's profitability and efficiency. A February 1, 1992 start date has been set for the merger of the Salt and Basic Chemicals Division with the Chemicals Division. Projected completion date is January 1, 1993, at which time Akzo will have four remaining business groups - Chemicals, Coatings, Fibers and Pharma. To give the business units more responsibility, shorten lines of communication and optimize corporate synergies, only one level of authority - the corporate management holding - will be placed over the business unit. Effective May 1, 1992< the board of management will be expanded to six - the chairman and deputy chairman and the four group presidents. The reorganization will result in some job losses and possible divestment of activities that cannot be converted to positive-operating units.
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|Title Annotation:||Business Briefs: Corporate, financial news; reorganization|
|Article Type:||Brief Article|
|Date:||Feb 1, 1992|
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