MIRA INFORM REPORT

Report Date :

12.08.2013

IDENTIFICATION DETAILS

Name :	CARBOSULF CHEMISCHE WERKE GMBH
Registered Office :	Geestemunder Strasse 26 Koln, 50735
Country :	Germany
Financials (as on) :	31.12.2011
Date of Incorporation :	30.11.1959
Com. Reg. No.:	HRB1797
Legal Form :	Private Subsidiary
Line of Business :	Manufacture of other organic basic chemicals: acyclic hydrocarbons, saturated and unsaturated; cyclic hydrocarbons, saturated and unsaturated; acyclic and cyclic alcohols, including synthetic ethyl alcohol, etc.
No. of Employees :	130

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Germany	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GERMANY - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.

Source : CIA

Company name and address

Top of Form

Carbosulf Chemische Werke GmbH

Geestemunder Strasse 26
Koln, 50735
Germany
Tel:	49-22174960
Fax:	49-2217496190
www.akzonobel.de

Employees:	130
Company Type:	Private Subsidiary
Corporate Family:	1225 Companies
Ultimate Parent:	Akzo Nobel N.V.
Incorporation Date:	30-Nov-1959

Financials in:	USD (mil)
Fiscal Year End:	31-Dec-2011
Reporting Currency:	Euro
Annual Sales:	81.0
Total Assets:	25.2

Business Description

Carbosulf Chemische Werke GmbH is primarily engaged in manufacture of other organic basic chemicals: acyclic hydrocarbons, saturated and unsaturated; cyclic hydrocarbons, saturated and unsaturated; acyclic and cyclic alcohols, including synthetic ethyl alcohol; mono- and polycarboxyclic acids including acetic acid; other oxygen-function compounds including aldehydes, ketones, quinones and dual or poly oxygen-function compounds; nitrogen-function organic compounds including amines; other organic compounds including wood distillation products, etc.; manufacture of charcoal; production of pitch and pitch coke; manufacture of synthetic aromatic products; and distillation of coal tar.

Industry

Industry	Miscellaneous Chemical Manufacturing
ANZSIC 2006:	1899 - Other Basic Chemical Product Manufacturing Not Elsewhere Classified
ISIC Rev 4:	2029 - Manufacture of other chemical products n.e.c.
NACE Rev 2:	2059 - Manufacture of other chemical products n.e.c.
NAICS 2012:	325998 - All Other Miscellaneous Chemical Product and Preparation Manufacturing
UK SIC 2007:	2059 - Manufacture of other chemical products n.e.c.
US SIC 1987:	2899 - Chemicals and Chemical Preparations, Not Elsewhere Classified

Key Executives

Name	Title
Werner Fuhrmann	Managing director
Joachim Parreidt	Managing director
Bob van der Leek	Managing director

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327

Corporate Overview

Location
Geestemünder Strasse 26
Köln, 50735
Germany

Tel:	49-22174960
Fax:	49-2217496190

www.akzonobel.de

Sales EUR(mil):	58.2
Assets EUR(mil):	19.4
Employees:	130
Fiscal Year End:	31-Dec-2011

Industry:

Chemical Manufacturing

Incorporation Date:	30-Nov-1959
Company Type:	Private Subsidiary
Quoted Status:	Not Quoted
Registered No.():	HRB1797
Parent Registered No.(UK):	DEU

Managing director:

Joachim Parreidt

Industry Codes

ANZSIC 2006 Codes:
1899	-	Other Basic Chemical Product Manufacturing Not Elsewhere Classified

ISIC Rev 4 Codes:
2029	-	Manufacture of other chemical products n.e.c.

NACE Rev 2 Codes:
2059	-	Manufacture of other chemical products n.e.c.

NAICS 2012 Codes:
325998	-	All Other Miscellaneous Chemical Product and Preparation Manufacturing

US SIC 1987:
2899	-	Chemicals and Chemical Preparations, Not Elsewhere Classified

UK SIC 2007:
2059	-	Manufacture of other chemical products n.e.c.

Business Description

Specialty Chemicals Mfr

More Business Descriptions

Carbosulf Chemische Werke GmbH is primarily engaged in manufacture of other organic basic chemicals: acyclic hydrocarbons, saturated and unsaturated; cyclic hydrocarbons, saturated and unsaturated; acyclic and cyclic alcohols, including synthetic ethyl alcohol; mono- and polycarboxyclic acids including acetic acid; other oxygen-function compounds including aldehydes, ketones, quinones and dual or poly oxygen-function compounds; nitrogen-function organic compounds including amines; other organic compounds including wood distillation products, etc.; manufacture of charcoal; production of pitch and pitch coke; manufacture of synthetic aromatic products; and distillation of coal tar.

All Other Chemical Product and Preparation Manufacturing

Financial Data

Financials in:	EUR(mil)
Revenue:	58.2
Assets:	19.4
Current Assets:	15.0
Total Liabilities:	19.4
Issued Capital:	3.2
Net Worth:	9.9
Date of Financial Data:	31-Dec-2011

1 Year Growth

16.6%

NA

Key Corporate Relationships

Bank:

Commerzbank vormals Dresdner Bank

Corporate Structure News

Carbosulf Chemische Werke GmbH
Total Corporate Family Members: 1225
Excluded Small Branches and/or Trading Addresses: 532 (Available via export)

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Akzo Nobel N.V.	Parent	Amsterdam	Netherlands	Basic Chemical Manufacturing	19,775.5	55,590
Akzo Nobel Performance Coatings	Division	Amsterdam	Netherlands	Miscellaneous Chemical Manufacturing	5,685.4	21,000
International Paint Ltd.	Subsidiary	Gateshead	United Kingdom	Paint, Coating, and Adhesive Manufacturing	313.9	930
International Paint Saudi Arabia Ltd	Subsidiary	Dammam	Saudi Arabia	Miscellaneous Wholesale	14.7	90
International Paint (Taiwan) Limited	Subsidiary	Hsin Dian, Taipei	Taiwan	Miscellaneous Wholesale		75
International Paint (Gulf) Ltd	Subsidiary	Dubai	United Arab Emirates	Paint, Coating, and Adhesive Manufacturing		30
International Paint Sp. z.o.o.	Subsidiary	Gdansk	Poland	Miscellaneous Wholesale		16
International Paints (Holdings) Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
International Paint Akzo Nobel Coatings S.A.	Subsidiary	Villa Martelli, Buenos Aires	Argentina	Chemical Wholesale
International Paint (Panama) Inc	Subsidiary	San Miguelito	Panama	Miscellaneous Wholesale
International Paint (Pty) Ltd	Subsidiary	Durban	South Africa	Miscellaneous Wholesale
International Paint Ltd	Subsidiary	Odessa	Ukraine	Miscellaneous Wholesale
Akzo Nobel Powder Coatings Ltd.	Subsidiary	Gateshead	United Kingdom	Paint, Coating, and Adhesive Manufacturing	79.9	219
Lucoat Powder Coatings tld	Subsidiary	Ansan	Korea, Republic of	Miscellaneous Chemical Manufacturing		50
Akzo Nobel Package Coatings GmbH	Subsidiary	Hilden, Nordrhein-Westfalen	Germany	Paint, Coating, and Adhesive Manufacturing	113.6	180
Akzo Nobel Coatings Inc.	Subsidiary	Louisville, KY	United States	Paint, Coating, and Adhesive Manufacturing		25
Casco Adhesives AB	Subsidiary	Stockholm	Sweden	Paper Product Manufacturing	147.6	316
Casco Adhesives Co Ltd	Subsidiary	Pathumthani	Thailand	Chemical Wholesale		75
Casco Persada Indonesia, PT	Subsidiary	Cikarang-Bekasi	Indonesia	Chemical Wholesale		30
Casco Adhesives Sdn Bhd	Subsidiary	Shah Alam, Selangor	Malaysia	Chemical Wholesale
Akzo Nobel Coatings Inc	Branch	High Point, NC	United States	Paint, Coating, and Adhesive Manufacturing	201.6	300
Akzo Nobel Coatings Inc	Branch	Roanoke, VA	United States	Paint, Coating, and Adhesive Manufacturing	103.4	188
Akzo Nobel Coatings Inc.	Branch	Columbus, OH	United States	Paint, Coating, and Adhesive Manufacturing	58.2	180
Akzo Nobel Coatings Inc	Branch	Pontiac, MI	United States	Synthetic Chemical Manufacturing	214.4	150
Akzo Nobel Coatings Inc.	Branch	Clinton, MS	United States	Paint, Coating, and Adhesive Manufacturing	74.3	120
Akzo Nobel Coatings Inc	Branch	Norcross, GA	United States	Motor Vehicle Wholesale	198.0	100
Akzo Nobel Coatings Inc	Branch	Salem, OR	United States	Paint, Coating, and Adhesive Manufacturing	43.2	72
Akzo Nobel Coatings Inc	Branch	Torrance, CA	United States	Paint, Coating, and Adhesive Manufacturing	27.8	60
Akzo Nobel Coatings Inc.	Branch	Waukegan, IL	United States	Paint, Coating, and Adhesive Manufacturing	58.1	50
Akzo Nobel Coatings Inc. (KY)	Branch	Louisville, KY	United States	Paint, Coating, and Adhesive Manufacturing		50
Akzo Nobel Coatings Inc.	Branch	Birmingham, AL	United States	Paint, Coating, and Adhesive Manufacturing	113.9	46
Akzo Nobel Coatings Inc	Branch	Fort Worth, TX	United States	Metal Products Manufacturing	12.9	26
Akzo Nobel Coatings Inc	Branch	Norcross, GA	United States	Metal Products Manufacturing	6.8	26
Akzo Nobel Coatings Inc	Branch	Schofield, WI	United States	Metal Products Manufacturing	6.5	26
Akzo Nobel Coatings Inc	Branch	Tarrytown, NY	United States	Metal Products Manufacturing	5.9	26
Akzo Nobel Coatings Inc	Branch	Fort Worth, TX	United States	Motor Vehicle and Parts Dealers	2.8	15
Akzo Nobel Coatings Inc	Branch	Dallas, TX	United States	Motor Vehicle Wholesale	30.7	14
Akzo Nobel Coatings Inc	Branch	Earth City, MO	United States	Motor Vehicle Wholesale	25.1	13
Akzo Nobel Coatings Inc.	Branch	Springfield, OH	United States	Paint, Coating, and Adhesive Manufacturing	6.1	12
Glidden	Branch	Grand Prairie, TX	United States	Home and Garden Retail	3.6	10
Akzo Nobel Coatings Inc	Branch	Lombard, IL	United States	Metal Products Manufacturing	2.9	10
Akzo Nobel Coatings Inc	Branch	Cheshire, CT	United States	Motor Vehicle Wholesale	19.2	9
Glidden Professional	Branch	San Antonio, TX	United States	Home and Garden Retail	3.3	9
Akzo Nobel Coatings Inc	Branch	San Antonio, TX	United States	Motor Vehicle Wholesale	17.5	8
Akzo Nobel Coatings Inc	Branch	Orlando, FL	United States	Motor Vehicle Wholesale	16.5	8
Akzo Nobel Coatings Inc	Branch	Charlotte, NC	United States	Motor Vehicle Wholesale	15.7	8
Akzo Nobel Coatings Inc	Branch	Bridgewater, NJ	United States	Miscellaneous Chemical Manufacturing	6.9	8
Akzo Nobel Coatings Inc	Branch	Golden, CO	United States	Motor Vehicle Wholesale	14.1	7
Akzo Nobel Coatings Inc	Branch	Norcross, GA	United States	Motor Vehicle Wholesale	13.9	7
Akzo Nobel Coatings Inc	Branch	Deer Park, NY	United States	Miscellaneous Wholesale	14.3	6
Akzo Nobel Coatings Inc	Branch	Tampa, FL	United States	Motor Vehicle Wholesale	12.4	6
ICI Dulux Painting	Branch	Santa Maria, CA	United States	Home and Garden Retail	2.2	6
Glidden	Branch	Riverside, CA	United States	Home and Garden Retail	2.2	6
Akzo Nobel Car Refinishes	Branch	El Cajon, CA	United States	Motor Vehicle Wholesale	10.8	5
Akzo Nobel Automotive Coatings	Branch	Greensboro, NC	United States	Motor Vehicle Wholesale	9.8	5
Akzo Nobel Coatings Inc	Branch	Greenville, SC	United States	Motor Vehicle Wholesale	9.4	5
Akzo Nobel Coatings Inc	Branch	New Orleans, LA	United States	Metal Products Manufacturing	5.2	5
Akzo Nobel Coatings Inc	Branch	Ontario, CA	United States	Paint, Coating, and Adhesive Manufacturing	2.8	5
Akzo Nobel Coatings Inc. (MI)	Branch	Troy, MI	United States	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Specialty Chemicals	Division	Arnhem	Netherlands	Basic Chemical Manufacturing	7,244.7	13,300
Akzo Nobel Industrial Chemicals bv	Subsidiary	Amersfoort	Netherlands	Miscellaneous Chemical Manufacturing	1,230.6	500
Eka Chemicals AB	Subsidiary	Bohus	Sweden	Miscellaneous Chemical Manufacturing	1,284.1	400
Akzo Nobel Functional Chemicals bv	Subsidiary	Amersfoort	Netherlands	Miscellaneous Chemical Manufacturing	1,461.2
Akzo Nobel Surface Chemistry LLC	Subsidiary	Chicago, IL	United States	Miscellaneous Chemical Manufacturing	1,045.9
Akzo Nobel Polymer Chemicals LLC	Subsidiary	Chicago, IL	United States	Miscellaneous Chemical Manufacturing	663.7
Akzo Nobel (Asia) Co Ltd	Subsidiary	Shanghai	China	Miscellaneous Wholesale	1,451.9	5,000
Akzo Nobel Industrial Finishes Holding BV	Subsidiary	Arnhem	Netherlands	Basic Chemical Manufacturing	1,027.7	3,800
Akzo Nobel Car Refinishes Indonesia, PT	Subsidiary	Jakarta	Indonesia	Paint, Coating, and Adhesive Manufacturing		2,010
Akzo Nobel Ltda.	Subsidiary	São Paulo, SP	Brazil	Basic Chemical Manufacturing	1,079.0	1,419
Akzo Nobel Ltda (Itupeva)	Branch	Itupeva, Sao Paulo	Brazil	Miscellaneous Chemical Manufacturing	1,578.8	2,500
Akzo Nobel Decorative Paints	Division	Sassenheim	Netherlands	Paint, Coating, and Adhesive Manufacturing	6,519.8	1,200
AkzoNobel	Subsidiary	Longueuil, QC	Canada	Paint, Coating, and Adhesive Manufacturing		1,000
Dulux Paints	Branch	Concord, ON	Canada	Home and Garden Retail	19.3	50
Dulux Paints	Branch	Edmonton, AB	Canada	Home and Garden Retail	4.3	11
Dulux Paints	Branch	North York, ON	Canada	Home and Garden Retail	3.9	10
Dulux Paints	Branch	Vancouver, BC	Canada	Home and Garden Retail	3.8	10
Dulux Paints	Branch	Calgary, AB	Canada	Home and Garden Retail	3.5	9
Betonel	Branch	Lasalle, QC	Canada	Home and Garden Retail	3.4	9
Dulux Paints	Branch	Belleville, ON	Canada	Home and Garden Retail	3.1	8
Dulux Paints	Branch	Regina, SK	Canada	Home and Garden Retail	3.1	8
Dulux Paints	Branch	St Catharines, ON	Canada	Home and Garden Retail	3.1	8
Dulux Paints	Branch	Dartmouth, NS	Canada	Home and Garden Retail	2.7	7
Betonel	Branch	Sainte-Therese, QC	Canada	Home and Garden Retail	2.7	7
Dulux Paints	Branch	Abbotsford, BC	Canada	Home and Garden Retail	2.7	7
Dulux Paints	Branch	Surrey, BC	Canada	Home and Garden Retail	2.7	7
Dulux Paints	Subsidiary	Brampton, ON	Canada	Home and Garden Retail	2.7	7
Dulux Paints	Branch	Halifax, NS	Canada	Home and Garden Retail	2.7	7
Betonel Dulux	Branch	Rimouski, QC	Canada	Home and Garden Retail	2.7	7
Betonel Dulux	Branch	Longueuil, QC	Canada	Home and Garden Retail	2.7	7
Dulux Paints	Branch	Moncton, NB	Canada	Home and Garden Retail	2.7	7
Dulux Paints	Branch	Oshawa, ON	Canada	Home and Garden Retail	2.6	7
Dulux Paints	Branch	Edmonton, AB	Canada	Home and Garden Retail	2.3	6
Betonel	Branch	Repentigny, QC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Subsidiary	Mount Pearl, NL	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Winnipeg, MB	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Winnipeg, MB	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Subsidiary	Kitchener, ON	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Cambridge, ON	Canada	Home and Garden Retail	2.3	6
Betonel Dulux	Branch	Laval, QC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Coquitlam, BC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Brantford, ON	Canada	Home and Garden Retail	2.3	6
Betonel	Branch	Quebec, QC	Canada	Home and Garden Retail	2.3	6
Betonel	Branch	Drummondville, QC	Canada	Home and Garden Retail	2.3	6
Betonel Dulux	Branch	Drummondville, QC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Victoria, BC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Vancouver, BC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	St. Albert, AB	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Vancouver, BC	Canada	Home and Garden Retail	2.3	6
Betonel	Branch	Sherbrooke, QC	Canada	Home and Garden Retail	2.3	6
Betonel Dulux	Branch	Sherbrooke, QC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Subsidiary	Hamilton, ON	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Hamilton, ON	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Subsidiary	Kitchener, ON	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	North Vancouver, BC	Canada	Home and Garden Retail	2.3	6
Betonel	Branch	Longueuil, QC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Happy Valley-Goose Bay, NL	Canada	Home and Garden Retail	2.3	6
Betonel	Branch	Saint-Leonard, QC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Branch	Burnaby, BC	Canada	Home and Garden Retail	2.3	6
Dulux Paints	Subsidiary	Kingston, ON	Canada	Home and Garden Retail	1.9	5
DULUX Paints	Subsidiary	Calgary, AB	Canada	Home and Garden Retail	1.9	5
DULUX Paints	Subsidiary	Sarnia, ON	Canada	Home and Garden Retail	1.9	5
Dulux Paints	Subsidiary	Oakville, ON	Canada	Home and Garden Retail	1.9	5
Dulux Paints	Subsidiary	Hamilton, ON	Canada	Home and Garden Retail	1.9	5
Dulux Paints	Subsidiary	Burlington, ON	Canada	Home and Garden Retail	1.9	5
Dulux Paints	Subsidiary	Ottawa, ON	Canada	Home and Garden Retail	1.9	5
Dulux Paints	Subsidiary	Mississauga, ON	Canada	Paint, Coating, and Adhesive Manufacturing	3.3	4
Dulux Paints	Subsidiary	Waterloo, ON	Canada	Home and Garden Retail	1.6	4
Dulux Paints	Subsidiary	Waterloo, ON	Canada	Home and Garden Retail	1.6	4
Dulux Paints	Subsidiary	Medicine Hat, AB	Canada	Home and Garden Retail	1.5	4
DULUX Paints	Subsidiary	Calgary, AB	Canada	Home and Garden Retail	1.5	4
Dulux Paints	Subsidiary	Ottawa, ON	Canada	Home and Garden Retail	1.5	4
Dulux Paints	Subsidiary	Stoney Creek, ON	Canada	Home and Garden Retail	1.5	4
Dulux Paints	Subsidiary	Mississauga, ON	Canada	Home and Garden Retail	1.5	4
Dulux Paints	Subsidiary	Stoney Creek, ON	Canada	Home and Garden Retail	1.5	4
Dulux Paints	Subsidiary	Mississauga, ON	Canada	Home and Garden Retail	1.5	4
Dulux Paints	Subsidiary	Bolton, ON	Canada	Home and Garden Retail	1.5	4
Dulux Paints	Subsidiary	Guelph, ON	Canada	Home and Garden Retail	1.2	3
Dulux Paints	Subsidiary	Guelph, ON	Canada	Home and Garden Retail	1.2	3
DULUX Paints	Subsidiary	Calgary, AB	Canada	Home and Garden Retail	1.2	3
Dulux Paints	Subsidiary	Timmins, ON	Canada	Home and Garden Retail	1.2	3
Dulux Paints	Subsidiary	Mission, BC	Canada	Home and Garden Retail	1.2	3
AkzoNobel (Asia Pacific) Pte. Ltd.	Subsidiary	Singapore	Singapore	Paint, Coating, and Adhesive Manufacturing	912.1
SA Alba (Deco Paints Latin America)	Subsidiary	Buenos Aires, Garin	Argentina	Paint, Coating, and Adhesive Manufacturing
Tintas Coral Ltda.	Subsidiary	Mauá, SP	Brazil	Paint, Coating, and Adhesive Manufacturing
Pinturas Inca S.A.	Subsidiary	Montevideo	Uruguay	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Coatings International B.V.	Subsidiary	Sassenheim	Netherlands	Paint, Coating, and Adhesive Manufacturing		1,200
Akzo Nobel Decorative Coatings B.V.	Subsidiary	Wapenveld	Netherlands	Paint, Coating, and Adhesive Manufacturing		130
Akzo Nobel Decorative Coatings B.V.	Subsidiary	Groot-Ammers	Netherlands	Paint, Coating, and Adhesive Manufacturing		100
Akzo Nobel Decorative Coatings B.V.	Subsidiary	Breda	Netherlands	Paint, Coating, and Adhesive Manufacturing		40
Akzo Nobel Aerospace Coatings Ltd.	Subsidiary	Leicester	United Kingdom	Paint, Coating, and Adhesive Manufacturing	14.3	21
Akzo Nobel Coatings (Bld) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Akzo Nobel Decorative Coatings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services		7
Akzo Nobel Decorative Coatings Ltd.	UK Branch/Trading address	Warrington	United Kingdom	Paint, Coating, and Adhesive Manufacturing		25
Akzo Nobel Properties Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
National Starch Personal Care	Subsidiary	Bridgewater, NJ	United States	Synthetic Chemical Manufacturing		1,200
AkzoNobel India Ltd.	Subsidiary	Gurgaon, Haryana	India	Miscellaneous Chemical Manufacturing		1,200
AkzoNobel India Ltd.	Subsidiary	Thane	India	Paint, Coating, and Adhesive Manufacturing		82
ICI India Ltd.-Paints Division	Subsidiary	Gurgaon, Haryana	India	Paint, Coating, and Adhesive Manufacturing
J.P.Mcdougall & Co.Ltd.	Subsidiary	Altrincham	United Kingdom	Miscellaneous Wholesale	262.9	1,197
Ici Paints (Trade Contract) Ltd.	Subsidiary	Altrincham	United Kingdom	Home and Garden Retail	172.6	94
Akzo Nobel Nederland BV	Subsidiary	Arnhem	Netherlands	Administrative Services		1,100
AKZO Nobel Chemicals BV	Subsidiary	Amersfoort	Netherlands	Holding Companies		500
AKZO Nobel Industrial Chemicals BV	Subsidiary	Amersfoort	Netherlands	Basic Chemical Manufacturing	1,417.1	1,700
Akzo Nobel Polymer Chemicals B.V.	Subsidiary	Amersfoort, Utrecht	Netherlands	Basic Chemical Manufacturing		97
Akzo Nobel Functional Chemicals BV	Subsidiary	Amersfoort	Netherlands	Basic Chemical Manufacturing	2,401.1	81
Akzo Nobel Salt BV	Subsidiary	Amersfoort	Netherlands	Miscellaneous Chemical Manufacturing
Akzo Nobel Energy B.V.	Subsidiary	Rotterdam	Netherlands	Electricity Generation and Distribution
Akzo Nobel Engineering & Operational Solutions B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing		232
Akzo Nobel Insurance Management B.V.	Subsidiary	Arnhem	Netherlands	Insurance Agents		1,100
International Coatings Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments		1,000
Imperial Chemical Industries Ltd.	Subsidiary	London	United Kingdom	Paint, Coating, and Adhesive Manufacturing	697.4	873
Akzo Nobel India Ltd	Subsidiary	Gurgaon	India	Paint, Coating, and Adhesive Manufacturing	436.0	1,795
Akzo Nobel India Limited, Uniqema Business ( Division Of Ici India Limited )	Branch	Navi Mumbai, Maharashtra	India	Miscellaneous Chemical Manufacturing		200
Akzo Nobel	UK Branch/Trading address	Slough	United Kingdom	Paint, Coating, and Adhesive Manufacturing	697.4	1,000
Ingredion Germany GmbH	Subsidiary	Hamburg, Hamburg	Germany	Paint, Coating, and Adhesive Manufacturing	269.8	175
AkzoNobel Paints (Puerto Rico) Inc.	Subsidiary	Carolina, PR	United States	Paint, Coating, and Adhesive Manufacturing	0.7	150
Quest International Philippines Corp	Subsidiary	Metro Manila	Philippines	Basic Chemical Manufacturing	0.4	90
Henkel Adhesive Technologies Norden AB	Subsidiary	Norrköping	Sweden	Food Manufacturing	73.3	77
Akzo Nobel Packaging Coatings SAS	Subsidiary	Saint Pierre les Elbeuf	France	Paint, Coating, and Adhesive Manufacturing	91.6	74
Crosfield South Africa (Pty) Ltd	Subsidiary	Germiston, Gauteng	South Africa	Basic Chemical Manufacturing		70
Ici Vietnam Company Limited	Subsidiary	Binh Duong	Viet Nam	Paint, Coating, and Adhesive Manufacturing		60
National Starch & Chemical Ltd.-P'ingchen	Subsidiary	P'ingchen, Taoyuan Hsien	Taiwan	Chemical Wholesale		55
Akzo Nobel (Nsc) Ltd.	Subsidiary	Slough	United Kingdom	Miscellaneous Professional Services		1
National Starch & Chemical Ltd.	UK Branch/Trading address	Goole	United Kingdom	Food Manufacturing		75
National Starch & Chemical Ltd.	Holding	Manchester	United Kingdom	Food Manufacturing		25
Mortar Investments Uk Ltd.	Subsidiary	London	United Kingdom	Holding Companies
Ici International Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
ICI Paints (Malaysia) Sdn Bhd	Subsidiary	Nilai, Negeri Sembilan	Malaysia	Paint, Coating, and Adhesive Manufacturing
Hatchpoint Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
ICI Paints Mercosur B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Ici Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Ergon Investments UK Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
I C I Finance Ltd.	Subsidiary	London	United Kingdom	Banking
Horseferry Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Mortar Investments International Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Stevenston Holdings Ltd.	Subsidiary	Stevenston	United Kingdom	Nonclassifiable Establishments
Til Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Polycell Products Ltd.	Subsidiary	Slough	United Kingdom	Nonclassifiable Establishments		1,000
Ici Chemicals & Polymers Ltd.	Subsidiary	London	United Kingdom	Investment Services
William Tatton & Co. Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Intex Yarns (Manufacturing) Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Akzo Nobel (Nash) Ltd.	Subsidiary	Slough	United Kingdom	Nonclassifiable Establishments
Ergon Investments International Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Ici Paints (Malaysia) Sdn. Bhd.	Subsidiary	Petaling Jaya, Selangor	Malaysia	Paint, Coating, and Adhesive Manufacturing	93.4	300
Ici Ireland Limited	Subsidiary	Cork	Ireland	Pensions and Funds	0.4
Dulux Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Ici North America Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Ici Funding Ltd.	Subsidiary	Jersey	United Kingdom
01389338 Ltd.	Subsidiary	Manchester	United Kingdom	Nonclassifiable Establishments
Grupo Ici México, S.A. De C.V.	Subsidiary
National Starch And Chemical, S.A. De C.V.	Subsidiary	Toluca De Lerdo, Estado De Mexico	Mexico	Synthetic Chemical Manufacturing	53.4	200
Ici Servicios México, S.A. De C.V.	Subsidiary	Toluca De Lerdo, Estado De Mexico	Mexico	Administrative Services		180
National Starch Servicios, S.A. De C.V.	Subsidiary	Zapopan, Jalisco	Mexico	Consulting Services		60
Aranal, S.A. De C.V.	Subsidiary	Ciudad De Mexico, Distrito Federal	Mexico	Basic Chemical Manufacturing	53.3
Schramm Holding AG	Subsidiary	Offenbach Am Main, Hessen	Germany	Paint, Coating, and Adhesive Manufacturing		791
International Paint of Shanghai Ltd	Subsidiary	Shanghai	China	Paint, Coating, and Adhesive Manufacturing	259.8	700
Akzo Nobel Chemicals MCA (Taixing) Co Ltd	Subsidiary	Shanghai	China	Chemical Wholesale		700
Akzo Nobel Deco GmbH	Subsidiary	Köln, Nordrhein-Westfalen	Germany	Paint, Coating, and Adhesive Manufacturing		650
Akzo Nobel Decorative Paints Sp. z.o.o.	Subsidiary	Warszawa	Poland	Miscellaneous Wholesale	179.4	649
Dulux (Pty) Ltd	Subsidiary	Alrode	South Africa	Paint, Coating, and Adhesive Manufacturing		640
Akzo Nobel Coatings GmbH	Subsidiary	Stuttgart, Baden-Württemberg	Germany	Paint, Coating, and Adhesive Manufacturing	230.3	550
Akzo Nobel Coatings SA	Subsidiary	Thiverny	France	Paint, Coating, and Adhesive Manufacturing	302.8	525
AkzoNobel - Decorative Paints	Subsidiary	Strongsville, OH	United States	Paint, Coating, and Adhesive Manufacturing	0.9	500
AkzoNobel Decorative Paints	Facility	Strongsville, OH	United States	Paint, Coating, and Adhesive Manufacturing		1,800
AkzoNobel Decorative Paints	Facility	Huron, OH	United States	Paint, Coating, and Adhesive Manufacturing	0.7	3
AkzoNobel Decorative Paints	Facility	Carrollton, TX	United States	Paint, Coating, and Adhesive Manufacturing	1.1	2
AkzoNobel Decorative Paints	Facility	Los Angeles, CA	United States	Home and Garden Retail
Akzo Nobel Polymer Chemicals B.V.	Subsidiary	Deventer	Netherlands	Miscellaneous Chemical Manufacturing		500
Akzo Nobel Paints Belgium	Subsidiary	Vilvoorde	Belgium	Paint, Coating, and Adhesive Manufacturing	262.8	433
Akzo Nobel Functional Chemicals AB	Subsidiary	Stenungsund	Sweden	Synthetic Chemical Manufacturing	537.4	418
International Paint (Korea) Ltd	Subsidiary	Busan	Korea, Republic of	Paint, Coating, and Adhesive Manufacturing	241.3	405
International Paint (Korea) Ltd - Chilseo Factory	Facility	Gyenae, Gyeongsangnam-do	Korea, Republic of	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Ltda (Sao Bernardo Do Campo)	Subsidiary	Sao Bernardo Do Campo, Sao Paulo	Brazil	Paint, Coating, and Adhesive Manufacturing	1,578.8	400
Akzo Nobel Polymer Chemicals	Subsidiary	Pasadena, TX	United States	Miscellaneous Store Retailers	97.9	400
Akzo Nobel Chemicals bv	Holding	Hengelo	Netherlands	Basic Chemical Manufacturing		400
Eka Chemicals AB	Subsidiary	Bohus	Sweden	Basic Chemical Manufacturing	1,382.6	2,700
Eka Chile S.A.	Subsidiary	Talcahuano	Chile	Chemical Wholesale		54
Akzo Nobel Pulp And Performance Chemicals Sa	Subsidiary	El Prat De Llobregat, Barcelona	Spain	Basic Chemical Manufacturing	5.6	37
Eka Chemicals de Venezuela C.A.	Subsidiary	Caracas	Venezuela	Basic Chemical Manufacturing
Eka Chemicals (Suzhou) Co Ltd	Subsidiary	Suzhou, Jiangsu Province	China	Basic Chemical Manufacturing
Eka Chemicals (Thailand) Ltd	Subsidiary	Bangkok	Thailand	Basic Chemical Manufacturing
Akzo Nobel Industrial Chemicals GmbH	Subsidiary	Ibbenbüren, Nordrhein-Westfalen	Germany	Basic Chemical Manufacturing	98.9	520
AkzoNobel GmbH	Subsidiary	Cologne	Germany	Paint, Coating, and Adhesive Manufacturing		300
Akzo Nobel Inc.	Subsidiary	Chicago, IL	United States	Basic Chemical Manufacturing	16,760.9	250
Akzo Nobel Chemicals Inc	Subsidiary	Chicago, IL	United States	Miscellaneous Chemical Manufacturing		300
Akzo Nobel Chemicals Inc	Branch	Pasadena, TX	United States	Chemical Wholesale	39.4	12
Akzo Nobel Chemicals Inc	Branch	Willowbrook, IL	United States	Chemical Wholesale	37.2	12
Akzo Nobel Chemicals Inc	Branch	Brewster, NY	United States	Chemical Wholesale	13.0	5
Akzo Nobel Chemicals Inc.	Subsidiary	Pasadena, TX	United States	Basic Chemical Manufacturing		300
International Paint Inc.	Subsidiary	Houston, TX	United States	Paint, Coating, and Adhesive Manufacturing	114.3	200
Cia. Mexicana De Pinturas International, S.A. De C.V.	Subsidiary	Toluca De Lerdo, Estado De Mexico	Mexico	Paint, Coating, and Adhesive Manufacturing		85
International Paint Limited	Branch	Berea, OH	United States	Metal Products Manufacturing	8.7	30
International Paint Limited	Branch	San Diego, CA	United States	Paint, Coating, and Adhesive Manufacturing	7.8	14
International Paint Limited	Branch	Deer Park, TX	United States	Miscellaneous Wholesale	36.1	12
International Paint Limited	Branch	Seattle, WA	United States	Miscellaneous Wholesale	19.7	10
International Paint Limited	Branch	Norfolk, VA	United States	Specialty Construction Trade Contractors	2.3	10
International Paint Limited	Branch	Miami Gardens, FL	United States	Paint, Coating, and Adhesive Manufacturing	3.4	7
Akzo Nobel Polymer Chemicals	Branch	La Porte, TX	United States	Basic Chemical Manufacturing	114.5	101
Akzo Nobel Chemicals Inc.	Subsidiary	Burt, NY	United States	Basic Chemical Manufacturing	38.2	73
Expancel Inc.	Subsidiary	Duluth, GA	United States	Chemical Wholesale		30
Nv Organon	Subsidiary	Alger	Algeria	Medical Equipment and Supplies		30
Akzo Nobel Coatings Inc	Branch	Ontario, CA	United States	Miscellaneous Wholesale	54.6	15
Keystone Automotive	Subsidiary	Monroeville, PA	United States	Motor Vehicle Wholesale	8.0	4
Akzo Nobel N.V.	Subsidiary	Denver, CO	United States	Miscellaneous Chemical Manufacturing		1
Akzo Nobel Chemical, Inc.	Subsidiary	Edison, NJ	United States	Pharmaceutical Manufacturing
Akzo Nobel Packaging Coatings Ltd.	Subsidiary	Birmingham	United Kingdom	Miscellaneous Professional Services	165.3	216
Akzo Nobel Packaging Coatings Ltd.	UK Branch/Trading address	Birmingham	United Kingdom	Paint, Coating, and Adhesive Manufacturing	165.3	175
AkzoNobel	Subsidiary	Saint Pierre-les-Elbeuf	France	Metal Products Manufacturing		70
Betonel Ltee	Subsidiary	Montreal, QC	Canada	Miscellaneous Wholesale	19.3	50
Pinturas Industriales Sicorel, S.A. de C.V.	Joint Venture	Monterrey, NL	Mexico	Paint, Coating, and Adhesive Manufacturing		7
Akzo Nobel Chemicals, S.A. de C.V.	Subsidiary	Los Reyes La Paz, Estado de México	Mexico	Basic Chemical Manufacturing		200
AkzoNobel Argentina SAIC	Subsidiary	San Lorenzo, Santa Fe	Argentina	Basic Chemical Manufacturing		180
EKA Chimie Canada Inc	Subsidiary	Magog, QC	Canada	Basic Chemical Manufacturing		175
Eka Chemicals Canada Inc	Branch	Salaberry-De-Valleyfield, QC	Canada	Miscellaneous Chemical Manufacturing	32.9	45
Nippon Ketjen Co Ltd	Subsidiary	Tokyo	Japan	Basic Chemical Manufacturing		159
Akzo Nobel Salt AS	Subsidiary	Mariager	Denmark	Miscellaneous Chemical Manufacturing	71.5	154
AkzoNobel Surface Chemistry	Subsidiary	Chattanooga, TN	United States	Basic Chemical Manufacturing		150
Akzo Nobel Surfactants	Branch	Morris, IL	United States	Chemical Wholesale	465.2	150
Akzo Nobel Surfactants	Branch	Fort Worth, TX	United States	Basic Chemical Manufacturing	48.8	43
Akzo Nobel Surfactants	Branch	Houston, TX	United States	Miscellaneous Chemical Manufacturing	9.1	6
Alco Dyes & Chemicals	Subsidiary	Dalton, GA	United States	Miscellaneous Store Retailers	0.7	3
Akzo Nobel Chemicals GmbH	Subsidiary	Cologne	Germany	Miscellaneous Chemical Manufacturing		150
Carbosulf Chemische Werke GmbH	Subsidiary	Köln, Nordrhein-Westfalen	Germany	Miscellaneous Chemical Manufacturing	81.0	130
Akzo Nobel Chemicals Ltd.	Facility	Walton-On-Thames	United Kingdom	Miscellaneous Chemical Manufacturing		130
Akzo Nobel Chemicals S.p.A.	Subsidiary	Milan	Italy	Miscellaneous Chemical Manufacturing		120
Akzo Nobel UK Limited	Subsidiary	Runcorn	United Kingdom	Miscellaneous Chemical Manufacturing		100
Eka Chemicals Inc.	Subsidiary	Marietta, GA	United States	Miscellaneous Chemical Manufacturing	275.0	90
Eka Chemicals Inc	Branch	Columbus, MS	United States	Basic Chemical Manufacturing	96.5	105
Eka Chemicals Inc	Branch	Calhoun, TN	United States	Miscellaneous Store Retailers	21.6	100
Eka Chemicals Inc	Branch	Moses Lake, WA	United States	Miscellaneous Store Retailers	10.1	40
Eka Chemicals Inc	Branch	Augusta, GA	United States	Miscellaneous Chemical Manufacturing	20.1	25
Eka Chemicals Inc	Branch	Duluth, GA	United States	Chemical Wholesale	17.5	6
AkzoNobel Argentina SAIC	Subsidiary	Buenos Aires	Argentina	Basic Chemical Manufacturing		90
AkzoNobel	Subsidiary	Hull	United Kingdom	Miscellaneous Chemical Manufacturing		60
Akzo Nobel Salt	Subsidiary	Gothenburg	Sweden	Chemical Wholesale	537.5	21
Akzo Nobel Chemical Ltd.	Subsidiary	Mississauga, ON	Canada	Miscellaneous Chemical Manufacturing		4
Akzo Nobel Chemicals LTD	Branch	Saskatoon, SK	Canada	Miscellaneous Chemical Manufacturing	21.9	30
Akzo Nobel Chemicals GmbH	Subsidiary	Emmerich am Rhein	Germany	Miscellaneous Chemical Manufacturing
Akzo Nobel (Shanghai) Co. Ltd.	Subsidiary	Shanghai	China	Paint, Coating, and Adhesive Manufacturing		400
Akzo Nobel Surface Chemistry AB	Subsidiary	Stenungsund	Sweden	Basic Chemical Manufacturing	357.5	399
Marshall Boya ve Vernik Sanayii A.S.	Subsidiary	Kocaeli	Turkey	Paint, Coating, and Adhesive Manufacturing	154.0	371
Akzo Nobel Decorative Coatings AB	Subsidiary	Malmö	Sweden	Paint, Coating, and Adhesive Manufacturing	137.1	330
Akzo Nobel Car Refinishes Sl	Subsidiary	Barcelona	Spain	Paint, Coating, and Adhesive Manufacturing	109.7	317
SCHÖNOX GmbH	Subsidiary	Rosendahl, Nordrhein-Westfalen	Germany	Paint, Coating, and Adhesive Manufacturing	128.2	315
Akzo Nobel S.A. - Santa Fe	Subsidiary	San Lorenzo, Santa Fe	Argentina	Miscellaneous Chemical Manufacturing	91.5	308
Akzo Nobel Coatings AG	Subsidiary	Reussbühl	Switzerland	Miscellaneous Wholesale	106.6	300
Akzo Nobel Functional Chemicals GmbH & Co. KG	Subsidiary	Greiz, Thüringen	Germany	Miscellaneous Chemical Manufacturing	100.8	300
Akzo Nobel Chang Cheng Coatings (Guangdong) Co Ltd	Subsidiary	Shenzhen	China	Paint, Coating, and Adhesive Manufacturing	65.8	300
Akzo Nobel Powder Coatings (Suzhou) Co., Ltd.	Subsidiary	Suzhou	China	Paint, Coating, and Adhesive Manufacturing	17.8	300
Akzo Nobel Powder Coatings (Ningbo) Co., Ltd.	Subsidiary	Ningbo, Zhejiang	China	Paint, Coating, and Adhesive Manufacturing		300
Akzo Nobel Coatings (Dongguan) Co. Ltd.	Subsidiary	Dongguan	China	Paint, Coating, and Adhesive Manufacturing		300
LII Europe GmbH	Subsidiary	Frankfurt Am Main, Hessen	Germany	Basic Chemical Manufacturing	165.5	290
Akzo Nobel Coatings Sl	Subsidiary	Barcelona	Spain	Paint, Coating, and Adhesive Manufacturing	84.9	263
Akzo Nobel Coatings Festékgyártó és Kereskedelmi Zrt	Subsidiary	Tiszaújváros	Hungary	Paint, Coating, and Adhesive Manufacturing		260
Akzo Nobel Powder Coatings GmbH	Subsidiary	Reutlingen, Baden-Württemberg	Germany	Basic Chemical Manufacturing		255
Eka Chemicals do Brasil S.A.	Subsidiary	JundiaÃ, SP	Brazil	Basic Chemical Manufacturing	139.0	250
Schramm Coatings GmbH	Subsidiary	Offenbach Am Main, Hessen	Germany	Chemical Wholesale	92.5	250
Vivechrom SA	Subsidiary	Elefsina	Greece	Paint, Coating, and Adhesive Manufacturing	76.2	245
Sales Support Group Ltd.	Subsidiary	Altrincham	United Kingdom	Miscellaneous Professional Services	0.0	241
Akzo Nobel Chemicals	Subsidiary	Ghlin	Belgium	Basic Chemical Manufacturing	61.7	238
ICI Paints Deco France SA	Subsidiary	Thiverny	France	Paint, Coating, and Adhesive Manufacturing	185.4	223
Cie Europeenne Peinture Julien	Subsidiary	Thiverny	France	Property Managers		7
Casco Adhesives (Asia) Pte Ltd	Subsidiary	Singapore	Singapore	Chemical Wholesale	38.6	220
AKZO Nobel	Subsidiary	Sunshine, VIC	Australia	Paint, Coating, and Adhesive Manufacturing	267.1	210
Société Tunisienne des Peintures Astral SA	Subsidiary	Mégrine	Tunisia	Paint, Coating, and Adhesive Manufacturing	25.7	200
ICI Paints Indonesia, PT	Subsidiary	Tangerang	Indonesia	Paint, Coating, and Adhesive Manufacturing		200
Ici Paints Indonesia, Pt	Branch	Bekasi, West Java	Indonesia	Paint, Coating, and Adhesive Manufacturing		500
Akzo Nobel Paints LLC	Subsidiary	Strongsville, OH	United States	Paint, Coating, and Adhesive Manufacturing		200
Glidden	Branch	Carmel, IN	United States	Home and Garden Retail	78.6	250
ICI Dulux Painting	Branch	Carrollton, TX	United States	Paint, Coating, and Adhesive Manufacturing	54.8	50
Glidden	Branch	Carrollton, TX	United States	Home and Garden Retail	18.2	50
Glidden	Branch	San Francisco, CA	United States	Home and Garden Retail	10.8	30
ICI Dulux Painting	Branch	Sandusky, OH	United States	Home and Garden Retail	3.7	12
ICI Dulux Painting	Branch	Honolulu, HI	United States	Home and Garden Retail	3.6	11
Glidden	Branch	Winter Park, FL	United States	Home and Garden Retail	3.4	10
Glidden	Branch	Tempe, AZ	United States	Home and Garden Retail	3.4	10
Glidden	Branch	Charlotte, NC	United States	Home and Garden Retail	2.9	9
ICI Dulux Painting	Branch	Hickory, NC	United States	Paint, Coating, and Adhesive Manufacturing	5.4	8
Glidden	Branch	Houston, TX	United States	Home and Garden Retail	2.9	8
Glidden	Branch	Anaheim, CA	United States	Home and Garden Retail	2.9	8
Glidden	Branch	Honolulu, HI	United States	Home and Garden Retail	2.7	8
Glidden	Branch	North Charleston, SC	United States	Home and Garden Retail	2.5	8
Glidden	Branch	West Des Moines, IA	United States	Home and Garden Retail	2.4	8
ICI Dulux Painting	Branch	Reading, PA	United States	Synthetic Chemical Manufacturing	9.0	7
Glidden	Branch	Corpus Christi, TX	United States	Home and Garden Retail	2.5	7
Glidden	Branch	Sacramento, CA	United States	Home and Garden Retail	2.5	7
ICI Dulux Painting	Branch	Sacramento, CA	United States	Home and Garden Retail	2.5	7
Glidden	Branch	Orlando, FL	United States	Home and Garden Retail	2.4	7
Glidden	Branch	Medford, OR	United States	Home and Garden Retail	2.3	7
Glidden	Branch	Saginaw, MI	United States	Home and Garden Retail	2.2	7
ICI Dulux Painting	Branch	Van Nuys, CA	United States	Paint, Coating, and Adhesive Manufacturing	3.4	6
ICI Dulux Painting	Branch	Rockville, MD	United States	Paint, Coating, and Adhesive Manufacturing	3.2	6
Glidden	Branch	Houston, TX	United States	Home and Garden Retail	2.2	6
Glidden	Branch	Fresno, CA	United States	Home and Garden Retail	2.2	6
Glidden Professional	Branch	Los Angeles, CA	United States	Home and Garden Retail	2.2	6
Glidden	Branch	Las Vegas, NV	United States	Home and Garden Retail	2.1	6
Glidden	Branch	Anchorage, AK	United States	Home and Garden Retail	2.1	6
Glidden	Branch	Chicago, IL	United States	Home and Garden Retail	2.1	6
Glidden	Branch	Loves Park, IL	United States	Home and Garden Retail	2.1	6
Glidden	Branch	Tampa, FL	United States	Home and Garden Retail	2.1	6
Glidden Professional	Branch	Denver, CO	United States	Home and Garden Retail	2.0	6
Glidden	Branch	Albuquerque, NM	United States	Home and Garden Retail	2.0	6
ICI Dulux Painting	Branch	Tyler, TX	United States	Paint, Coating, and Adhesive Manufacturing	5.5	5
ICI Paints	Subsidiary	Douglasville, GA	United States	Home and Garden Retail	0.7	2
OOO Akzo Nobel	Subsidiary	Moscow	Russian Federation	Miscellaneous Chemical Manufacturing		200
Akzo Nobel Industrial Coatings AB	Subsidiary	Malmö	Sweden	Basic Chemical Manufacturing	111.8	199
Akzo Nobel Coatings CZ, a.s.	Subsidiary	Praha	Czech Republic	Paint, Coating, and Adhesive Manufacturing	65.7	193
Akzo Nobel Industrial Paints Sl	Subsidiary	Vallirana, Barcelona	Spain	Miscellaneous Wholesale	104.6	190
Akzo Nobel Kemipol A.S.	Subsidiary	Kemalpasa, Izmir	Turkey	Paint, Coating, and Adhesive Manufacturing		181
Akzo Nobel Deco A/S	Subsidiary	København S	Denmark	Miscellaneous Wholesale	67.8	178
Akzo Nobel Baltics AS	Subsidiary	Tallinn	Estonia	Paint, Coating, and Adhesive Manufacturing	55.6	174
La Sadolin Sia	Subsidiary	Riga	Latvia	Chemical Wholesale
Akzo Nobel Industrial Coatings AB	Subsidiary	Gamleby	Sweden	Paint, Coating, and Adhesive Manufacturing		170
Dpn No. 3	Subsidiary	Cork	Ireland	Paint, Coating, and Adhesive Manufacturing	81.0	169
International Paint Singapore Pte. Ltd.	Subsidiary	Singapore	Singapore	Paint, Coating, and Adhesive Manufacturing	91.1	168
International Färg AB	Subsidiary	Angered	Sweden	Paint, Coating, and Adhesive Manufacturing	113.4	163
Oy International Paint (Finland) AB	Subsidiary	Vantaa	Finland	Home Furnishings Wholesale	11.5
Akzo Nobel Chemicals GmbH	Subsidiary	Düren, Nordrhein-Westfalen	Germany	Basic Chemical Manufacturing	93.2	160
Maricogen A/S	Subsidiary	Mariager	Denmark	Paint, Coating, and Adhesive Manufacturing		160
Akzo Nobel Coatings GmbH	Subsidiary	Elixhausen	Austria	Paint, Coating, and Adhesive Manufacturing	63.7	154
Proquimio Produtos Quimicos Opoterapicos Ltda.	Subsidiary	Barueri, SP	Brazil	Pharmaceutical Manufacturing		150
Akzo Nobel Powder Coatings SAS	Subsidiary	Dourdan	France	Paint, Coating, and Adhesive Manufacturing	112.7	149
Akzo Nobel Lakokraska Ltd	Subsidiary	Orekhovo-Zuyevo	Russian Federation	Paint, Coating, and Adhesive Manufacturing		140
Permascand AB	Subsidiary	Ljungaverk	Sweden	Basic Chemical Manufacturing	29.3	136
Akzo Nobel Paints Taiwan Limited	Subsidiary	Chung-li	Taiwan	Paint, Coating, and Adhesive Manufacturing		120
Akzo Nobel Powder Coatings Korea Co Ltd	Subsidiary	Ansan-si, Gyeonggi-do	Korea, Republic of	Metal Products Manufacturing	40.1	119
lnterquim S.A.	Subsidiary	Medellin	Colombia	Paint, Coating, and Adhesive Manufacturing		114
Akzo Nobel Decorative Coatings (Langfang) Co., Ltd.	Subsidiary	Langfang, Hebei	China	Paint, Coating, and Adhesive Manufacturing	24.3	110
Cégécol SNC	Subsidiary	Antony	France	Paint, Coating, and Adhesive Manufacturing	45.5	102
Nobel Industries USA Inc.	Subsidiary	Chicago, IL	United States	Basic Chemical Manufacturing	99.5	100
Akzo Nobel Industrial Finishes GmbH	Subsidiary	Nürnberg, Bayern	Germany	Basic Chemical Manufacturing	58.0	100
Desowag GmbH	Subsidiary	Wuppertal, Nordrhein-Westfalen	Germany	Basic Chemical Manufacturing	41.6	100
Advance Bioscience Laboratories, Inc.	Subsidiary	Rockville, MD	United States	Research and Development Services	24.7	100
Akzo Nobel Industrial Coatings Sdn Bhd	Subsidiary	Pasir Gudang, Johor	Malaysia	Paint, Coating, and Adhesive Manufacturing	20.0	100
International Paint Sdn Bhd	Subsidiary	Pasir Gudang, Johor	Malaysia	Paint, Coating, and Adhesive Manufacturing	16.2	100
Chemcraft International, Inc.	Subsidiary	Port Hope, ON	Canada	Miscellaneous Wholesale		100
Azko Nobel Wood Finishes	Branch	Warwick, QC	Canada	Miscellaneous Wholesale	71.8	80
Azko Nobel Wood Finishes	Branch	Winnipeg, MB	Canada	Miscellaneous Wholesale	20.1	22
Richelieu Hardware	Subsidiary	Calgary, AB	Canada	Paint, Coating, and Adhesive Manufacturing	4.2	5
Kayaku Akzo Corporation	Subsidiary	Tokyo	Japan	Basic Chemical Manufacturing		100
Lesonal GmbH	Subsidiary	Stuttgart	Germany	Miscellaneous Wholesale		100
Prime Automotive Paint Co Ltd	Subsidiary	Changzhou, Jiangsu Province	China	Miscellaneous Wholesale		100
Balakom Slovakia s.r.o.	Subsidiary	Zilina	Slovakia	Paint, Coating, and Adhesive Manufacturing		100
Akzo Nobel Car Refinishes Polska Sp. z.o.o.	Subsidiary	Warszawa	Poland	Miscellaneous Wholesale		95
Akzo Nobel Coatings AS	Subsidiary	Kolbotn	Norway	Chemical Wholesale	65.5	91
International Farbenwerke GmbH	Subsidiary	Börnsen, Schleswig-Holstein	Germany	Paint, Coating, and Adhesive Manufacturing	65.0	90
Soliant, LLC	Subsidiary	Lancaster, SC	United States	Paper Product Manufacturing		80
Akzo Nobel Coatings Vietnam Limited	Subsidiary	Bien Hoa, Dong Nai	Viet Nam	Paint, Coating, and Adhesive Manufacturing		80
Akzo Nobel Boya Sanayi ve Ticaret AS	Subsidiary	Izmir	Turkey	Basic Chemical Manufacturing		77
Akzo Nobel Bygglim AB	Subsidiary	Stockholm	Sweden	Paint, Coating, and Adhesive Manufacturing	61.5	75
Akzo Nobel Car Refinishes SAS	Subsidiary	Montataire	France	Basic Chemical Manufacturing	44.0	74
Akzo Nobel Pulp and Performance Chemicals SASU	Subsidiary	Ambés	France	Basic Chemical Manufacturing	16.2	74
Akzo Nobel Packaging Coatings, S.A.	Subsidiary	Vilafranca del Penedes, Barcelona	Spain	Paint, Coating, and Adhesive Manufacturing	59.7	72
Hammerite Products Ltd.	Subsidiary	Prudhoe	United Kingdom	Paint, Coating, and Adhesive Manufacturing	35.8	72
China Resources (Boxing) Oleochemicals Co., Ltd.	Subsidiary	Binzhou, Shandong	China	Basic Chemical Manufacturing		70
Akzo Nobel Coatings Ltd.	Subsidiary	Abingdon	United Kingdom	Miscellaneous Wholesale	39.0	69
International Paint Ltd.	Subsidiary	Rhoon, Zuid-Holland	Netherlands	Home Furnishings Wholesale		50
Server Boya Matbaa Murekkepleri ve Vernik Sanayi ve Ticaret A.S.	Subsidiary	Istanbul	Turkey	Paint, Coating, and Adhesive Manufacturing		50
International Paint (Belgium) NV	Subsidiary	Vilvoorde, Vlaams-Brabant	Belgium	Paint, Coating, and Adhesive Manufacturing		50
Akzo Nobel Car Refinishes AB	Subsidiary	Tyresö	Sweden	Miscellaneous Wholesale	28.1	46
International Paint Pazarlama Ltd Sti	Subsidiary	Istanbul	Turkey	Miscellaneous Wholesale		40
Salinco V.O.F.	Subsidiary	Hengelo	Netherlands	Electricity Generation and Distribution		40
Akzo Nobel Amides Co Ltd	Subsidiary	Gyeongju-si, Gyeongsangbuk-do	Korea, Republic of	Basic Chemical Manufacturing	35.0	39
Akzo Nobel Car Refinishes India Private Limited	Subsidiary	Secunderabad, Andhra Pradesh	India	Basic Chemical Manufacturing		39
Akzo Nobel Car Refinishes (Singapore) Pte Ltd	Subsidiary	Singapore	Singapore	Miscellaneous Wholesale	117.1	38
Techni-Coat Germany GmbH	Subsidiary	Isernhagen, Niedersachsen	Germany	Paint, Coating, and Adhesive Manufacturing		36
Akzo Nobel Industrial Finishes SAS	Subsidiary	Antony	France	Miscellaneous Wholesale	30.8	34
Eka Chemicals Korea Co Ltd	Subsidiary	Gunsan, Jeonbuk-do	Korea, Republic of	Basic Chemical Manufacturing	23.5	34
Eka Chemicals de Colombia Ltda	Subsidiary	Yumbo, Valle del Cauca	Colombia	Chemical Wholesale	16.4	34
Akzo Nobel S.A.S.	Subsidiary	Antony	France	Miscellaneous Chemical Manufacturing		34
Schönox s.r.o.	Subsidiary	Brno	Czech Republic	Chemical Wholesale	15.3	32
ICI Swire Paints Ltd.	Subsidiary	North Point	Hong Kong	Paint, Coating, and Adhesive Manufacturing		32
Akzo Nobel Swire Paints (Shanghai) Ltd	Subsidiary	Shanghai	China	Miscellaneous Wholesale		200
ICI Swire Paints (China) Ltd.	Subsidiary	Guangzhou	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Industrial Coatings Sp. z.o.o.	Subsidiary	Kostrzyn Wielkopolski	Poland	Chemical Wholesale		30
Akzo Nobel Industrial Coatings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Chemical Manufacturing	12.5	29
Akzo Nobel Chemicals Sa	Subsidiary	El Prat De Llobregat, Barcelona	Spain	Miscellaneous Chemical Manufacturing	3.4	27
Akzo Nobel AB	Subsidiary	Stockholm	Sweden	Basic Chemical Manufacturing	7.6	24
International Paint (Hellas) SA	Subsidiary	Piraeus	Greece	Miscellaneous Wholesale	2.1	24
Schramm Coatings Iberia Sa	Subsidiary	Esparreguera, Barcelona	Spain	Miscellaneous Wholesale	5.3	22
International Paint Italia SpA	Subsidiary	Genova	Italy	Miscellaneous Wholesale		22
International Maling AS	Subsidiary	Kolboltn	Norway	Chemical Wholesale	25.9	21
Akzo Nobel Pulp and Performance Chemicals (Australia) Pty Ltd	Subsidiary	Hallam, VIC	Australia	Synthetic Chemical Manufacturing	15.5	20
Akzo Nobel Powder Coatings SA	Subsidiary	Athens	Greece	Basic Chemical Manufacturing	15.0	20
Akzo Nobel Coatings SA	Subsidiary	Athens	Greece	Chemical Wholesale	6.8	20
OOO Akzo Nobel Trading and Distribution Company	Subsidiary	Moscow	Russian Federation	Chemical Wholesale		20
Pinturas Coral de Bolivia Ltda.	Subsidiary	Santa Cruz	Bolivia	Paint, Coating, and Adhesive Manufacturing	4.2	18
Techni-Coat International	Subsidiary	Kalmthout	Belgium	Chemical Wholesale	5.1	16
Eka Chemicals KK	Subsidiary	Tokyo	Japan	Chemical Wholesale		15
Akzo Nobel Powder Coatings	Subsidiary	Nashville, TN	United States	Metal Products Manufacturing		15
Akzo Nobel Powder Coatings Manufacturing	Branch	Warsaw, IN	United States	Metal Products Manufacturing	30.9	100
Akzo Nobel Chemicals	Subsidiary	Tokyo	Japan	Miscellaneous Chemical Manufacturing		15
Dulux Namibia (Pty) Limited	Subsidiary	Windhoek	Namibia	Paint, Coating, and Adhesive Manufacturing		14
International Paint (Research) Ltd	Subsidiary	Geoje, Gyeongsangnam-do	Korea, Republic of	Research and Development Services	1.7	13
OOO Akzo Nobel Wood Coatings	Subsidiary	Saint Petersburg	Russian Federation	Paint, Coating, and Adhesive Manufacturing		13
International Paints (Canada) Ltd	Subsidiary	Burnaby, BC	Canada	Miscellaneous Wholesale	4.1	12
Akzo Nobel Cellulosic Specialties Inc.	Subsidiary	Brewster, NY	United States	Chemical Wholesale	2.4	12
International Farvefabrik AS	Subsidiary	Hedehusene	Denmark	Chemical Wholesale	0.0	10
UAB Akzo Nobel Baltics	Subsidiary	Vilnius	Lithuania	Miscellaneous Wholesale		10
Akzo Nobel Baltics SIA	Subsidiary	Riga	Latvia	Miscellaneous Wholesale		10
International Paint Japan K.K.	Subsidiary	Kobe, Hyogo	Japan	Paint, Coating, and Adhesive Manufacturing		10
International Paint (Akzo Nobel Chile) Ltda	Subsidiary	Santiago	Chile	Miscellaneous Wholesale		10
Akzo Nobel Car Refinishes (Irl) Limited	Subsidiary	Dublin	Ireland	Miscellaneous Wholesale	4.4	9
Akzo Nobel (Cr9) Limited	Subsidiary	Dublin	Ireland	Paint, Coating, and Adhesive Manufacturing	0.5
International Paint (Gulf) Llc	Subsidiary	Manama	Bahrain	Paint, Coating, and Adhesive Manufacturing		7
Casco Byglim A/S	Subsidiary	Ballerup	Denmark	Chemical Wholesale		6
Peintures Couleurs Decoration S.A.S.	Subsidiary	Sartrouville	France	Home and Garden Retail		6
Akzo Nobel Distribution SAS	Subsidiary	Valence	France	Paint, Coating, and Adhesive Manufacturing		6
Akzo Nobel Farben Beteiligungs-GmbH	Subsidiary	Stuttgart, Baden-Württemberg	Germany	Paint, Coating, and Adhesive Manufacturing		5
Akzo Nobel Wood Coatings GmbH	Subsidiary	Hilden, Nordrhein-Westfalen	Germany	Paint, Coating, and Adhesive Manufacturing	249.0	600
Akzo Nobel Industrial Coatings Mexico SA de CV	Subsidiary	Villa de Garcia, Nuevo Leon	Mexico	Paint, Coating, and Adhesive Manufacturing		5
Akzo Nobel Industrial Chemicals AB	Subsidiary	Gothenburg	Sweden	Miscellaneous Chemical Manufacturing		5
Akzo Nobel Chemicals Pty Ltd	Subsidiary	Wetherill Park, NSW	Australia	Basic Chemical Manufacturing		3
Akzo Nobel Decorative International	Subsidiary	Essen	Germany	Miscellaneous Wholesale		3
Akzo Nobel Pensions GmbH	Subsidiary	Wuppertal, Nordrhein-Westfalen	Germany	Pensions and Funds		2
Interquim S.A.	Subsidiary	MedellÃn, Antioquia	Colombia	Synthetic Chemical Manufacturing	61.3
Akzo Nobel K.K.	Subsidiary	Chiyoda-Ku, Tokyo	Japan	Miscellaneous Wholesale	49.2
International Paint (Hong Kong) Limited	Subsidiary	North Point	Hong Kong	Paint, Coating, and Adhesive Manufacturing	12.8
International Paint (East Russia) Limited	Subsidiary	North Point, Hong Kong	Hong Kong	Miscellaneous Wholesale	2.0	2
Akzo Nobel Car Refinishes AB NUF	Subsidiary	Kolbotn	Norway	Miscellaneous Wholesale	6.7
Mega Paint and Coating Corporation	Subsidiary	Binangonan	Philippines	Miscellaneous Wholesale	5.0
Sico Inc.	Subsidiary	Longueuil, QC	Canada	Residential and Commercial Building Construction
Ichem Insurance Co. Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
ICI Argentina S.A.I.C.	Subsidiary	Buenos Aires	Argentina	Basic Chemical Manufacturing
Akzo Nobel Ltd.	Subsidiary	London	United Kingdom	Holding Companies
Akzo Nobel Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Akzo Nobel Coatings (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Resinous Chemicals Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Knuk Assets Management Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
O. H. Director Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Akzo Nobel Chemicals (India) Limited	Subsidiary	Pune, Maharashtra	India	Basic Chemical Manufacturing
Akzo Nobel Chemicals (India) Limited	Branch	Pune, Maharashtra	India	Miscellaneous Chemical Manufacturing	5.5
Akzo Nobel Car Refinishes A/S	Subsidiary	Hedehusene	Denmark	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Coatings India Private Limited	Subsidiary	Bangalore, Karnataka	India	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Swire Paints (Guangzhou) Ltd	Subsidiary	Guangzhou	China	Paint, Coating, and Adhesive Manufacturing
Tianjin Akzo Nobel Peroxides Co Ltd	Subsidiary	Tianjin	China	Chemical Wholesale
Akzo Nobel Coatings K.K.	Subsidiary	Suita, Osaka	Japan	Paint, Coating, and Adhesive Manufacturing
Pinturas International C.A.	Subsidiary	Maracaibo, Zulia	Venezuela	Miscellaneous Wholesale
Akzo Nobel Powder Coatings South Africa (Proprietary) Limited	Subsidiary	Alberton	South Africa	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Coatings BV	Subsidiary	Sassenheim	Netherlands	Holding Companies
AKZO Nobel Car Refinishes	Subsidiary	Sassenheim	Netherlands	Paint, Coating, and Adhesive Manufacturing	1,125.1	1,200
B.V. Verfindustrie Spectrum	Subsidiary	Mijdrecht, Utrecht	Netherlands	Home Furnishings Wholesale		33
Akzo Nobel Decorative Coatings bv	Subsidiary	Sassenheim	Netherlands	Paint, Coating, and Adhesive Manufacturing	3,552.9	253
Akzo Nobel Coatings SA	Subsidiary	Casablanca	Morocco	Miscellaneous Wholesale		340
Akzo Coatings Ltda -Tintas	Subsidiary	Sao Paulo	Brazil	Paint, Coating, and Adhesive Manufacturing		200
Akzo Nobel Coatings SA	Subsidiary	Buenos Aires	Argentina	Paint, Coating, and Adhesive Manufacturing	100.8	50
Akzo Nobel Aerospace Coatings	Subsidiary	Rome	Italy	Paint, Coating, and Adhesive Manufacturing		38
Akzo Nobel Coatings Ltd.	Subsidiary	Etobicoke, ON	Canada	Paint, Coating, and Adhesive Manufacturing		30
International Paint	Branch	Dorval, QC	Canada	Miscellaneous Wholesale	12.8	14
Azko Nobel Coatings LTD	Branch	Saint-Jerome, QC	Canada	Paint, Coating, and Adhesive Manufacturing	11.0	13
Azko Nobel Coatings LTD	Branch	Maple Ridge, BC	Canada	Paint, Coating, and Adhesive Manufacturing	10.9	13
Chase Auto Body Supplies	Subsidiary	Vancouver, BC	Canada	Motor Vehicle Repair and Maintenance	1.8	12
International Paint	Branch	Saskatoon, SK	Canada	Miscellaneous Wholesale	5.5	6
Chase Autobody Supplies	Subsidiary	Prince George, BC	Canada	Metal Products Manufacturing	1.0	3
Akzo Nobel UK Ltd	Subsidiary	London	United Kingdom	Miscellaneous Professional Services		19
AkzoNobel Decorative Paints	Subsidiary	Slough	United Kingdom	Paint, Coating, and Adhesive Manufacturing		1,000
AkzoNobel SA	Subsidiary	Asnieres	France	Miscellaneous Wholesale		900
BV Alabastine (Holland)	Subsidiary	Ammerzoden	Netherlands	Paint, Coating, and Adhesive Manufacturing		100
AkzoNobel	Subsidiary	Stowmarket	United Kingdom	Paint, Coating, and Adhesive Manufacturing		100
Dulux Paints Ireland Ltd.	Subsidiary	Dublin	Ireland	Miscellaneous Wholesale		65
AkzoNobel Paints Espana	Subsidiary	Vilafranca del Penedes	Spain	Paint, Coating, and Adhesive Manufacturing		60
AkzoNobel	Subsidiary	Diegem	Belgium	Paint, Coating, and Adhesive Manufacturing		35
Unitecta Italiana S.p.A.	Subsidiary	Milan	Italy	Paint, Coating, and Adhesive Manufacturing		27
AkzoNobel Ltd.	Subsidiary	Santa Cruz	Bolivia	Paint, Coating, and Adhesive Manufacturing		19
AkzoNobel	Subsidiary	Prague	Czech Republic	Paint, Coating, and Adhesive Manufacturing
International Paint LLC	Subsidiary	Union, NJ	United States	Home and Garden Retail	260.7	85
Akzo Nobel Films (Holdings) Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments		25
Holywell-Halkyn Mining And Tunnel Co. Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Fothergill And Harvey Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Vulnax International Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Akzo Nobel (Cps) Pension Trustee Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Group Nominees Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
Interstab Ltd.	Subsidiary	London	United Kingdom	Nonclassifiable Establishments
International Paint (Nederland) BV	Subsidiary	Rhoon	Netherlands	Paint, Coating, and Adhesive Manufacturing		53
Akzo Nobel Powder Coatings B.V.	Subsidiary	Sassenheim	Netherlands	Paint, Coating, and Adhesive Manufacturing		19
Akzo Nobel Car Refinishes (Singapore) Pte. Ltd. Taiwan Branch	Subsidiary	Taipei City, Taipei	Taiwan	Miscellaneous Wholesale		6
Sikkens Verkoop B.V.	Subsidiary	Breda	Netherlands	Miscellaneous Wholesale		2
Sikkens Verkoop Nederland B.V.	Subsidiary	Weert, Limburg	Netherlands	Home Furnishings Wholesale	25.4	96
Van Noordenne Verf B.V.	Subsidiary	Hardinxveld-Giessendam	Netherlands	Paint, Coating, and Adhesive Manufacturing		24
De Sikkens Grossier B.V.	Subsidiary	West-Knollendam	Netherlands	Paint, Coating, and Adhesive Manufacturing
AKZO Nobel Aerospace Coatings BV	Subsidiary	Sassenheim	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Car Refinishes Australia Pty Ltd	Subsidiary	Port Melbourne, VIC	Australia	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel (Australia) Pty Ltd	Subsidiary	Wingfield, SA	Australia	Chemical Wholesale
Akzo Nobel Paints (Asia Pacific) Pte Ltd	Subsidiary	Singapore	Singapore	Miscellaneous Wholesale
Eka Chemicals (Taiwan) Co Ltd	Subsidiary	Taichung	Taiwan	Basic Chemical Manufacturing
Akzo Nobel Paints Vietnam Ltd	Subsidiary	Ho Chi Minh City	Viet Nam	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Fesco Ltd	Subsidiary	Vladivostok	Russian Federation	Miscellaneous Wholesale
Akzo Nobel NV	Subsidiary	Moscow	Russian Federation	Chemical Wholesale
Akzo Nobel Car Refinishes Ltd	Subsidiary	Khimki, Moskovskaya Oblast	Russian Federation	Miscellaneous Wholesale
Akzo Nobel Dekor	Subsidiary	Balashikha, Moskovskaya Oblast	Russian Federation	Miscellaneous Wholesale
Ankorit Joint Stock Company	Subsidiary	Moscow	Russian Federation	Chemical Wholesale
Sadolin RU	Subsidiary	Moscow	Russian Federation	Miscellaneous Wholesale
Scottish Agricultural Industries Ltd.	Subsidiary	Newbridge	United Kingdom	Nonclassifiable Establishments
Eka Chemicals Indonesia, PT	Subsidiary	Jawa Timur	Indonesia	Basic Chemical Manufacturing
International Paint (Taiwan) Ltd	Subsidiary	Kaohsiung	Taiwan	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Chang Cheng (Taiwan) Ltd	Subsidiary	Taipei	Taiwan	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Car Refinishes (Hong Kong) Limited	Subsidiary	Hong Kong	Hong Kong	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Inda, S.A. de C.V.	Subsidiary	Monterrey, Nuevo Leon	Mexico	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Cross-linking Peroxides (Ningbo) Co Ltd	Subsidiary	Ningbo	China	Chemical Wholesale
Akzo Nobel Car Refinishes Korea Co. Ltd	Subsidiary	Seoul	Korea, Republic of	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Chemicals Representation and Services Sp. z.o.o.	Subsidiary	Warszawa	Poland	Chemical Wholesale
Akzo Nobel Ltda	Subsidiary	Mar Del Plata	Argentina	Chemical Wholesale
Schramm SSCP (Thailand) Co., Ltd.	Subsidiary	Rayong	Thailand	Chemical Wholesale
Akzo Nobel Coatings SrL	Subsidiary	Bucharest	Romania	Miscellaneous Wholesale
ICI Holdings (Australia) Pty Ltd	Subsidiary	Wetherill Park, NSW	Australia	Investment Services
Eka Bahia S.A.	Subsidiary	Eunapolis, Bahia	Brazil	Miscellaneous Chemical Manufacturing
Akzo Nobel Swire Paints Limited	Subsidiary	North Point	Hong Kong	Paint, Coating, and Adhesive Manufacturing
ICI South Pacific Holdings Pty Ltd	Subsidiary	Melbourne, VIC	Australia	Investment Services
Compania Mexicana de Pinturas international SA De CV	Subsidiary	Toluca	Mexico	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Pakistan Limited	Subsidiary	Lahore	Pakistan	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Powder Coatings (Langfang) Co. Ltd.	Subsidiary	Langfang, Hebei	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Chemicals MCA (Taixing) Co. Ltd.	Subsidiary	Taixing, Jiangsu	China	Miscellaneous Chemical Manufacturing
Akzo Nobel Specialty Chemicals (Shanghai) Co., Ltd	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing
Akzo Nobel Thioplast Chemicals (Taixing) Co., Ltd.	Subsidiary	Taixing, Jiangsu	China	Miscellaneous Chemical Manufacturing
Keum Jung Akzo Nobel Peroxides Ltd	Subsidiary	Tianjin	China	Miscellaneous Chemical Manufacturing
Akzo Nobel Powder Coatings (Chengdu) Co., Ltd.	Subsidiary	Chengdu	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Protective Coatings (Suzhou) Co. Ltd	Subsidiary	Suzhou	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel (Australia) Pty Ltd	Subsidiary	Adelaide, SA	Australia	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Powder Coatings Fze	Subsidiary	Dubai	United Arab Emirates	Paint, Coating, and Adhesive Manufacturing
Brunob VII B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Carelaa B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Nordsjo Butiker AB	Subsidiary	Malmo	Sweden	Home and Garden Retail
Sadvel SA	Subsidiary	Casablanca	Morocco	Miscellaneous Wholesale
Dulux Limited	Subsidiary	Blantyre	Malawi	Miscellaneous Wholesale
Casco Adhezivi d.o.o.	Subsidiary	Trzin	Slovenia	Chemical Wholesale
Akzo Nobel Chang Cheng Coatings (Suzhou) Co Ltd	Subsidiary	Suzhou	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Argentina S.A.	Subsidiary	Buenos Aires	Argentina	Paint, Coating, and Adhesive Manufacturing
Eka Chemicals AS	Subsidiary	Rjukan	Norway	Miscellaneous Chemical Manufacturing
Dulux Botswana (Pty) Limited	Subsidiary	Gaborone	Botswana	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Chang Cheng Limited	Subsidiary	Ho Chi Minh City	Viet Nam	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Amides Co. Ltd	Subsidiary	Seoul	Korea, Republic of	Miscellaneous Chemical Manufacturing
Akzo Nobel Functional Chemicals S.A.	Subsidiary	San Lorenzo, Santa Fe	Argentina	Basic Chemical Manufacturing
Akzo Nobel Industrial Chemicals	Subsidiary	Taixing	China	Miscellaneous Chemical Manufacturing
Akzo Nobel Faser Pensionsverwaltungs-GmbH	Subsidiary	Wuppertal	Germany	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Assurantie N.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Management B.V.	Subsidiary	Arnhem	Netherlands	Investment Services
Torgovaya Kompaniya Akzo Nobel Ooo	Subsidiary	Moscow	Russian Federation	Chemical Wholesale	12.5	7
Akzo Nobel Center Energie B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Holding Osterreich GmbH	Subsidiary	Elixhausen, Salzburg	Austria	Investment Services
Akzo Nobel Coatings International B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Miscellaneous Wholesale
Akzo Nobel Coatings SpA	Subsidiary	Trezzano sul Naviglio, MI	Italy	Paint, Coating, and Adhesive Manufacturing	422.9	842
Akzo Nobel Coatings Spa	Branch	Como, Como	Italy	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel de Argentina S.A. - Garin	Subsidiary	Garin, Buenos Aires	Argentina	Paint, Coating, and Adhesive Manufacturing	87.7	387
Akzo Nobel Coatings Festekgyarto Es Kereskedelmi Zartkoruen Mukodo Reszvenytarsasag	Subsidiary	Budapest	Hungary	Chemical Wholesale	30.2	87
Akzo Nobel Coatings Oy	Subsidiary	Vantaa	Finland	Paint, Coating, and Adhesive Manufacturing	33.9	59
I C I Ooo	Subsidiary	Moscow	Russian Federation	Construction and Hardware Materials Wholesale	11.1	36
Akzo Nobel Tintas para Automoveis Lda	Subsidiary	Lisbon	Portugal	Paint, Coating, and Adhesive Manufacturing	1.2	9
Casco Adhesives (Beijing) Co., Ltd.	Subsidiary	Beijing, Beijing	China	Paint, Coating, and Adhesive Manufacturing	7.4
Akzo Nobel Coatings Limited	Subsidiary	Sam Phran, Nakhon Pathom	Thailand	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Coatings Sdn Bhd	Subsidiary	Shah Alam, Selangor	Malaysia	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel (C) Holdings B.V.	Subsidiary	Arnhem	Netherlands	Investment Services
International Paint (Taiwan) Ltd.	Subsidiary	Kaohsiung City	Taiwan	Paint, Coating, and Adhesive Manufacturing		118
International Peinture SA	Subsidiary	Le Havre	France	Paint, Coating, and Adhesive Manufacturing	50.2	34
Akzo Nobel Coatings	Subsidiary	Avondale	New Zealand	Miscellaneous Wholesale	3.2	30
International Paint lberia, Lda	Subsidiary	Azeitao	Portugal	Paint, Coating, and Adhesive Manufacturing	12.1	20
International Paint Indonesia, Pt	Subsidiary	Bekasi, West Java	Indonesia	Paint, Coating, and Adhesive Manufacturing	31.3
Akzo Nobel Coatings (Jiaxing) Co. Ltd	Subsidiary	Jiaxing, Zhejiang	China	Paint, Coating, and Adhesive Manufacturing
Dulux Swaziland (Pty) Limited	Subsidiary	Matsapha	Swaziland	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Paints (Puerto Rico) Inc.	Subsidiary	Carolina, PR	United States	Paint, Coating, and Adhesive Manufacturing
E.Beffa S.A.	Subsidiary	Neuchatel	Switzerland	Miscellaneous Wholesale
Akzo Nobel Decorative Coatings A/S	Subsidiary	Oslo	Norway	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Powder Coatings (Vietnam) Co., Ltd.	Subsidiary	Nhon Trach, Dong Nai	Viet Nam	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Aerospace Coatings GmbH	Subsidiary	Norderstedt	Germany	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Distribution Ouest S.A.S.	Subsidiary	Saint Barthelemy-d'Anjou	France	Miscellaneous Wholesale
Tetra Galon SAS	Subsidiary	Bagnolet	France	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Distribution lle de France S.A.S.	Subsidiary	Corbas	France	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Car Refinishes AG	Subsidiary	Baretswil	Switzerland	Miscellaneous Wholesale
Akzo Noble Finance United States Inc	Subsidiary	Wilmington, DE	United States	Investment Services
Sadolin Farveland A/S	Subsidiary	Copenhagen	Denmark	Miscellaneous Wholesale
ICI Omicron B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Intervet Do Brasil Veterinária Ltda.	Subsidiary	Sao Paulo, Sao Paulo	Brazil	Pharmaceutical Manufacturing
Carbide Sweden AB	Subsidiary	Sundsvall	Sweden	Miscellaneous Chemical Manufacturing
lJsselmij Warmtekracht Hengelo B.V.	Subsidiary	Amersfoort	Netherlands	Paint, Coating, and Adhesive Manufacturing
Schramm SSCP (Hanoi) Co Ltd.	Subsidiary	Bac Ninh	Viet Nam	Chemical Wholesale
Suzhou Eka Trade Co. Ltd	Subsidiary	Suzhou	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Peru S.A.C.	Subsidiary	Trujillo	Peru	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Polymer Chemicals (Ningbo) Co., Ltd.	Subsidiary	Ningbo	China	Miscellaneous Chemical Manufacturing
Akzo Nobel Functional Chemicals Verwaltungs-GmbH	Subsidiary	Greiz	Germany	Miscellaneous Chemical Manufacturing
Akzo Nobel Coatings (Tianjin) Co., Ltd.	Subsidiary	Tianjin	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel ChangCheng Coating (Langfang) Co., Ltd.	Subsidiary	Langfang	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Industrial Coatings SA	Subsidiary	Vallirana	Spain	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel industrial Coatings Korea Ltd.	Subsidiary	Ansan	Korea, Republic of	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Car Refinishes (Suzhou) Co. Ltd	Subsidiary	Suzhou	China	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Coatings Trading Ltd	Subsidiary	Sam Phran	Thailand	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Automotive and Aerospace Coatings Mexico S.A. de C.V.	Subsidiary	Tlalnepantla	Mexico	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel China B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel China Beheer B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Holding Duitsland B.V.	Subsidiary	Arnhem	Netherlands	Investment Services
Akzo Nobel GmbH	Subsidiary	Wuppertal, Nordrhein-Westfalen	Germany	Holding Companies	1,748.8	3,820
Akzo Nobel Chemicals Holding GmbH	Subsidiary	Düren, Nordrhein-Westfalen	Germany	Consulting Services		1
Akzo Nobel Salz GmbH	Subsidiary	Düren, Nordrhein-Westfalen	Germany	Food Manufacturing
Rhone Sud Est Decoration S.A.	Subsidiary	Lyon	France	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel (Malaysia) Sdn Bhd	Subsidiary	Pasir Gudang	Malaysia	Miscellaneous Chemical Manufacturing
Akzo Nobel Energie Hengelo B.V.	Subsidiary	Hengelo	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Decorative Coatings Turkey B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Pulp and Paper Chemicals B.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
Akzo Nobel Ltda - Quimica Division	Division	Sao Paulo	Brazil	Miscellaneous Chemical Manufacturing
Akzo Nobel Representative Offices B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Sourcing B.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
Nobel Industries Holding B.V.	Subsidiary	Arnhem	Netherlands	Investment Services
International Coatings Pte Ltd	Subsidiary	Cairns, QLD	Australia	Paint, Coating, and Adhesive Manufacturing
Remmert Holland B.V.	Subsidiary	Arnhem	Netherlands	Paint, Coating, and Adhesive Manufacturing
Akzo Nobel Chemicals International B.V.	Subsidiary	Amersfoort	Netherlands	Investment Services
Akzo Nobel Asia Pte. Ltd.	Subsidiary	Singapore	Singapore	Chemical Wholesale	33.1	200
Akzo Nobel Ethylene Amines (Ningbo) Co., Ltd.	Subsidiary	Ningbo, Zhejiang	China	Basic Chemical Manufacturing	1.4	150
Akzo Nobel Chemicals SpA	Subsidiary	Novara, NO	Italy	Miscellaneous Chemical Manufacturing	48.2	137
Eka Chemicals Oy	Subsidiary	Helsinki	Finland	Chemical Wholesale	20.1	78
Akzo Nobel Pulp And Performance Chemicals Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Chemical Manufacturing	7.1	35
Akzo Nobel Pulp And Performance Chemicals (Ac) Ltd.	Subsidiary	London	United Kingdom	Commercial and Industrial Rental	0.1
Akzo Nobel Functional Chemicals Pte. Ltd.	Subsidiary	Singapore	Singapore	Chemical Wholesale	14.2	18
Akzo Nobel Quimica S.A.	Subsidiary	Ciudad De Buenos Aires, Buenos Aires	Argentina	Chemical Wholesale	3.9	11
Akzo Nobel Chemicals Ltd.	Subsidiary	London	United Kingdom	Basic Chemical Manufacturing
Akzo Nobel Industries Limited	Subsidiary	Wetherill Park, NSW	Australia	Paint, Coating, and Adhesive Manufacturing
Decorative Ouest S.A.S.	Subsidiary	Saint Barthelemy-d'Anjou	France	Paint, Coating, and Adhesive Manufacturing
Eka Chemicals (Guangzhou) Co., Ltd.	Subsidiary	Guangzhou	China	Miscellaneous Chemical Manufacturing
ICI Paints Uruguay Holdings B.V.	Subsidiary	Naarden	Netherlands	Investment Services
ICI Theta B.V.	Subsidiary	Rotterdam	Netherlands	Paint, Coating, and Adhesive Manufacturing
International Paint (East Russia) Ltd	Subsidiary	Vladivostok	Russian Federation	Paint, Coating, and Adhesive Manufacturing
International Paint France S.A.	Subsidiary	La Verpilliere	France	Paint, Coating, and Adhesive Manufacturing
Panter B.V.	Subsidiary	Venlo	Netherlands	Paint, Coating, and Adhesive Manufacturing
Tekyar Teknik Yardim A. S.	Subsidiary	Gebze	Turkey	Paint, Coating, and Adhesive Manufacturing
OOO Petrokom-Lipetsk	Subsidiary	Lipetsk	Russian Federation	Paint, Coating, and Adhesive Manufacturing
Ceilcote Air-Cure Ltd.	Subsidiary
Verantis Corporation	Subsidiary	Middleburg Heights, OH	United States	Electromedical and Control Instruments Manufacturing		30
Verantis Corp	Branch	Lagrange, OH	United States	Specialty Construction Trade Contractors	4.0	23
Verantis (Singapore) Pte Ltd	Subsidiary	Singapore	Singapore	Electromedical and Control Instruments Manufacturing	17.7	13
Verantis Environmental Solutions Group (Shanghai) Co.,Ltd	Subsidiary	Shanghai, Shanghai	China	Electromedical and Control Instruments Manufacturing	6.4	25
Ceilcote Ltd.	Subsidiary	Peterborough	United Kingdom	Specialty Construction Trade Contractors		5
Ceilcote Canada Air Pollution	Subsidiary
Ceilcote Corrosion Control	Subsidiary	Georgetown, ON	Canada	Civil Engineering	0.2	1
AKZO Nobel Ab	Subsidiary
Flood Co	Subsidiary	Strongsville, OH	United States	Paint, Coating, and Adhesive Manufacturing	40.0	150

Executives Report

Executives

Name	Title	Function
Werner Fuhrmann	Managing director	Managing Director
Joachim Parreidt	Managing director	Managing Director
Bob van der Leek	Managing director	Managing Director

Annual Profit & Loss

	31-Dec-2011	31-Dec-2010	31-Dec-2009
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate (Period Average)	0.71919	0.755078	0.719047
Consolidated	No	No	No
Total income	81.0	66.1	59.7
Raw materials and services	42.0	32.4	27.6
Net sales	81.0	66.1	59.7
Change in stock	-0.6	0.8	-2.0
Own work capitalised	0.0	0.0	0.3
Other operating income	1.1	0.9	0.7
Raw materials and consumables employed	42.0	32.4	27.6
Other external charges	1.7	2.1	5.5
Cost of goods sold	43.8	34.6	33.0
Cost of raw materials	43.8	34.6	33.0
Taxes and social security costs	0.8	0.6	0.7
Total payroll costs	3.8	3.1	3.3
Fixed asset depreciation and amortisation	1.1	1.2	1.0
Other operating costs	21.1	20.0	18.5
Net operating income	11.7	9.0	2.8
Other income	0.0	0.0	0.0
Interest payable on loans	0.3	0.3	0.0
Total expenses	0.3	0.2	0.0
Profit before tax	11.4	8.8	2.8
Provisions	4.6	3.4	2.8
Extraordinary expenses	0.4	0.4	-
Extraordinary result	-0.4	-0.4	-
Other taxes	0.0	0.0	0.0
Total taxation	3.8	2.8	0.9
Net profit	7.3	5.6	1.9

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.770327	0.745406	0.696986
Consolidated	No	No	No
Issued capital	4.2	4.3	4.6
Other reserves	1.5	1.6	1.7
Total reserves	1.5	1.6	1.7
Profits for the year	7.1	6.0	2.7
Total stockholders equity	12.8	11.9	9.0
Deferred taxation	0.7	0.5	-
Other provisions	0.8	0.6	1.0
Provision for pensions	2.8	2.3	1.9
Provisions and allowances	4.3	3.4	2.9
Trade creditors	4.1	6.4	6.0
Taxation and social security	0.3	0.3	0.2
Other current liabilities	-	0.4	0.5
Due to group companies	3.4	4.6	7.6
Total current liabilities	8.1	11.9	14.5
Total liabilities (including net worth)	25.2	27.3	26.3
Patents	0.0	0.0	0.0
Goodwill	1.5	1.8	2.1
Intangibles	1.5	1.8	2.1
Land and buildings	0.2	0.2	0.3
Machinery and tools	3.5	3.9	4.6
Fixtures and equipment	0.2	0.2	0.3
Fixed assets under construction	0.4	0.3	0.3
Total tangible fixed assets	4.2	4.4	5.3
Total non-current assets	5.7	6.2	7.4
Raw materials	3.2	2.9	3.0
Work in progress	0.4	0.6	0.7
Finished goods	1.5	2.1	1.1
Prepayments	-	0.0	0.1
Net stocks and work in progress	5.1	5.7	4.9
Trade debtors	10.6	7.0	9.0
Other receivables	0.8	0.7	2.1
Total receivables	14.4	15.3	14.0
Owing from associated companies	2.9	7.6	2.9
Total current assets	19.5	21.0	18.9
Prepaid expenses and deferred costs	-	-	0.0
Total assets	25.2	27.3	26.3

Annual Ratios

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.770327	0.745406	0.696986
Consolidated	No	No	No
Current ratio	24.11	17.63	13.05
Acid test ratio	17.83	12.83	9.67
Total liabilities to net worth	0.06%	0.10%	0.16%
Net worth to total assets	0.05%	0.04%	0.03%
Current liabilities to net worth	0.06%	0.10%	0.16%
Current liabilities to stock	0.16%	0.21%	0.30%
Fixed assets to net worth	0.04%	0.05%	0.08%
Collection period	511.00	380.00	533.00
Stock turnover rate	0.67	0.86	0.79
Profit margin	0.01%	0.01%	0.00%
Return on assets	0.03%	0.02%	0.01%
Shareholders' return	0.05%	0.05%	0.02%
Sales per employee	176.45	156.05	134.11
Profit per employee	16.65	14.00	4.20
Average wage per employee	8.34	7.34	7.51
Net worth	12.8	11.9	9.0
Number of employees	33	32	32

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.11
UK Pound	1	Rs.94.77
Euro	1	Rs.81.54

INFORMATION DETAILS

Report Prepared by :

PRL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.