Akzo Nobel Coatings Inc. history

An unsuccessful businessman, Immanuel was forced to file for bankruptcy in 1832 after the family's home burned down.

In 1837, Immanuel moved to Russia, leaving his family behind, to start a new business.

By 1842, Immanuel had achieved modest success with his invention, and he sent for his family.

Alfred's exposure to that environment, combined with his natural interest in chemistry, prompted him to form his own company in 1864 called Nitroglycerin AB.

1871 KemaNobel is established in Sweden.

In an effort to overcome opposition from established gunpowder manufacturers and other competitors, Nobel and several associates formed the Nobel Dynamite Trust in 1886.

1895 Alfred Nobel (the man behind the Nobel Prize) founds Elektrokemiska Aktiebolaget – known as Eka – in Bengtsfors, Sweden.

1918 Koninklijke Nederlandse Zoutindustrie (KZO) kick-starts the Dutch salt industry in response to salt shortages during World War I.

1923 Saal van Zwanenberg establishes Organon to produce insulin from the pancreases of animals.

1929: Vereinigte Glanzstoff-Fabriken, a German manufacturer of paint and rayon, merges with the Dutch company Nederlandsche Kunstzijdebariek, a competing rayon producer, and forms Algemene unstzijde Unie (AKU).

1968 UK man-made fiber company Courtaulds acquires International Paints.

AKU joined forces with KZO--a major Dutch producer of chemicals, drugs, detergents, and cosmetics--in 1969, and the resultant organization became Akzo.

1979: Akzo profits continue falling due to weak demand and overcapacity.

Akzo executives made another significant move toward reorganizing their operations in 1982 when they appointed Arnout A. Loudon chief executive of the company.

Nobel Industries AB was created in 1984 by the merger of the Swedish chemical firm KemaNobel with the Swedish weapons maker Bofors.

Meanwhile, Nobel's United States chemical subsidiary, Bofors Nobel, Inc., filed for bankruptcy in 1985, largely because the United States Department of Natural Resources had sued the division for $15 million in environmental clean-up costs.

In 1986, Penser's company won a five-year, $1.2 billion contract to supply field artillery to the Indian government.

1990 sales approached $10 billion as profits surged.

The Holzapfel brothers built a new factory in Felling, UK, to produce their increasingly successful International marine antifouling paint (see also 1994).

Akzo also sold its subsidiary Akzo Nobel Salt, Inc. in 1997 as part of its effort to focus on its core operations.

In 1998, the firm focused on making key alliances and acquisitions as well as paring back less profitable operations.

Perhaps the most important move in 1999 was the sale of Acordis to CVC Capital Partners.

In 2000, the company ranked as world's largest paint manufacturer, as well as a top chemical manufacturer.

According to a January 2001 company press release, the firm was, 'sticking to our basic themes of coherence and value.

During the year 2004-05 the company launched two premium products namely WaterShield Max and Tile Shield in the paint segment.

In November 2006 they sold their 100% equity shareholding in Quest International Ltd to Givaudan (India) Pvt Ltd.

In March 2007 the Advanced Refinish Paints Business (2K) was divested to an affiliate of PPG Industries USA. Also Uniqema business was divested to Croda Group of UK during the financial year.During the year 2007-08 the company launched low cost Acrylic Distemper Primer and Putty in the pain segment.

Dulux was launched onto the retail market and ten years later an Old English sheepdog was used in the brand’s adverts for the first time (see also 2008).

The name of the company was changed to its present name Akzo Nobel India Limited in February 2010.On 4 October 2010 Akzo Nobel India announced that it has signed an agreement with M/s Corn Products International Inc.

The Board of Directors of Akzo Nobel India at its meeting held on 21 October 2011 approved a scheme arrangement (the scheme) involving amalgamation of Akzo Nobel Coatings India Private Ltd.

On 3 July 2014 Akzo Nobel India announced that it has formally inaugurated a new laboratory facility at its Thane site on 2 July 2014.

At the global level Akzo Nobel NV announced in April 2017 its intention to separate its Specialty Chemicals Business from its Paints and Coatings Business to create two focused and separate businesses.

The total consideration to be received from this sale will be Rs 320 crore subject to adjustment for working capital and for an economic effective date of 1 January 2018.