By Michael Susin
Akzo Nobel said it intends to close two factories as part of turnaround plans.
The Dutch paints company said on Thursday it will close the sites in Wapenveld, the Netherlands, and Machelen, Belgium, and consolidate production at other locations in the region. The company didn't disclose how many workers will be affected.
Akzo Nobel said the aim is reduce operating costs and boost its industrial network by reducing complexity.
The decision follows last year's closures of three factories located in Europe and Africa, and the more recent streamlining plans for Montataire, France, it added.
"All relevant parties have been informed about the intended closures of Wapenveld and Machelen, as well as the next steps, which are subject to consultation with local employee representatives," it said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 22, 2025 11:16 ET (15:16 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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