Rising material costs and deteriorating markets are not the ideal backdrop in which to take charge of one of the world's largest industrial companies, which completed its acquisition of British bellwether ICI ten months ago.

Here, chief executive Hans Wijers, a former economic minister in the Netherlands, answers your questions on how he will rise to the challenge and turn AkzoNobel into one of the world’s most environmentally responsible and most profitable chemicals and coatings giants.

In view of the consolidation in the industry, does this represent any more opportunities for AkzoNobel?

Ray, Singapore

"AkzoNobel has gone through a period of major transformation. In 2007, we divested our pharma division and we bought ICI which re-emphasized our position as the world’s largest coatings company. Furthermore, we sold several parts of ICI to German based Henkel. In the next few years, a lot of our energy is devoted to successfully integrating ICI and AkzoNobel. Not only financially, but also culturally. We are getting closer to the first year of the two companies combined, and I see a lot of passion, energy, and cross-selling already. So, this major transformation means that other transformational deals are not expected in the short term. In the past few months, we made some bolt-on acquisitions and that trend is very likely to continue. If there is a strategic fit for bolt-on acquisition opportunities, we will evaluate the added value and the managerial span of control."

With forecasters predicting one year's recession at best and six years or more at worst, how are you going to proceed on 1, Expansion, 2, Contraction and 3, Leaving things untouched where possible, in different parts of the business?

Steve Buckel, Braunau-am-Inn, Austria

"It is clear that global economic conditions are deteriorating and that forward visibility is therefore limited. At this stage, the potential severity of the economic cycle is still unclear. Recognizing this, AkzoNobel will remain focused on working towards our medium-term target of an EBITDA margin of 14 per cent by the end of 2011, on delivering the €340 million ICI synergies faster; on driving margin management programs across the company; and on rigorous cost management to deliver at least an additional €100 million in net cost savings."

I am working on my doctoral thesis about corporate citizenship in chemical companies and I would be really interested to know how this concept fits into AkzoNobel's strategy? Are all your employees involved and aware of your Corporate Citizenship strategy?

Gustavo Huss, DBA Candidate

"Corporate citizenship is a very broad and generic term. It is very important within AkzoNobel, and one of the reasons why we are ranked as one of the leaders on the influential Dow Jones Sustainability Indices. All our employees, across the globe, have personally signed our Code of Conduct. Since you are writing a thesis, I would very much like to invite you to contact our people further so we can provide you with the information you need. Please send your questions to info@akzonobel.com "

The current market sectors AkzoNobel covers have their own opportunities for organic growth and further acquisitions. Do you believe you can satisfy your shareholders with just these sectors, or do you believe that in the medium term AkzoNobel will have to venture out into entirely new markets?

Ian, Guisborough, UK

"Post-transformation, AkzoNobel has a very good geo spread. Over 35 per cent of our revenue is from developing markets, with close to 40 per cent of operational profit from these markets. We are a very strong and focused company, the world’s largest coatings company and one of the leaders in speciality chemicals. Together with my 60,000 colleagues around the world, we are working in this company towards our medium-term target, the most visible being a 14 per cent EBITDA margin by the end of 2011. We have many leadership positions (which are always more profitable) and we have strong business across our portfolio including Dulux, Glidden, Sikkens, International Paint and EKA."

How do you plan to grow in light of global slowdown?

Manish, New York

"It is clear that global economic conditions are deteriorating and that forward visibility is therefore limited. At this stage, the potential severity of the economic cycle is unclear. Recognizing this, AkzoNobel will remain focused on working towards our medium-term target of an EBITDA margin of 14 per cent by the end of 2011, on delivering the €340 million ICI synergies faster; on driving margin management programs across the company; and on rigorous cost management to deliver at least an additional €100 million in net cost savings."

How can you justify average price increases of 8 per cent to your coatings customers in UK & Ireland for 2009, when the cost of oil and other raw materials is falling sharply?

Darren, Co Down

"Both price increases as well as price decreases have a time lag in passing through the entire supply chain, therefore you typically see this concept of delay."

With all this gloom around you are still sending positive message about profitability for the near future. That’s nice music for investors. However, they are interested to know also whether this profitability will be achieved with higher leverage levels or otherwise.

Joseph Farrugia, Attard, Malta

"We have been very clear in communicating our medium-term ambition. Next year is going to be tough, and further visibility is limited. However, we still see opportunities to further improve our businesses. AkzoNobel is committed to maintaining it’s A- rating, and is comfortable with its very conservative leverage, which will not become higher. At this stage, the potential severity of the economic cycle is still unclear. Recognizing this, AkzoNobel will remain focused on working towards our medium-term target of an EBITDA margin of 14 per cent by the end of 2011, on delivering the €340 million ICI synergies faster; on driving margin management programs across the company; and on rigorous cost management to deliver at least an additional €100 million in net cost savings."

In emerging economies where price is a key factor when deciding which product to buy, how can we make environmentally friendly products with competitive prices so the consumers can afford them? And do you think environmental friendly products can become mainstream products in emerging economies or they always be niche products?

Arthur Carneiro, AkzoNobel Employee - International Paint Brazil

"To start with your second question, our mainstream paint products are already environmentally friendly. For example, our complete range of latex paints is already water based and nearly all are very low in Volatile Organic Compounds (VOC) or contain no VOC at all. This includes our ranges in the developing markets too. To answer your first question, our sustainability strategy is to do more with less. This means developing or re-formulating new products using those raw materials that have less of an impact on the environment, and a more positive one (for the customer) on the price of the product."

Innovation is one of the pillars of growth for AkzoNobel. How to you plan to balance the investment in long-term Research and Development with the economic challenges currently facing the world? Do you increase investment to take ensure a strong position with innovative products as markets free up or do you cut back on investment in research and development to help preserve the bottom line?

Nigel Cordery

"It is always a fine balance, especially in these economic times. But we are very committed to R&D because this is a key to future growth. Innovation is key to our future growth plans, recent very successful launches include Dulux Paintpod, Freshaire in the United States, Dissolvine and Intersleek 900."

Will the current recession affect AkzoNobel's commitment to support the ICI pensions scheme? Or is there a force majeure let-out?

D Wilson, ICI Pensioner

"We are very committed to supporting our pensions schemes around the world."

Why don't they stop making poisonous chemicals?

Anonymous

"Chemicals are a fact of life. There is no way that the world could be the same without the use of chemicals, or we would no longer be able to use toothpaste, eat ice cream, pave roads etc. Wherever we have to work with more sensitive ingredients, we have extremely stringent safety precautions. We adhere to all environmental laws and in many cases we are already ahead of new legislation."

Do you see AkzoNobel continue to move towards specialty chemicals and does the current climate provide any more opportunities for consolidation?

Raytoei

"AkzoNobel is arguably the world’s largest speciality chemicals company. Following the major transformation in the past years, the focus will be on making the company even better. However, the focus will not be on transformational deals."

AzoNobel paid some 40 per cent above the then market price to acquire ICI. What price would have been too much? Isn’t this a trophy asset? Synergies and better management could not justify such a premium.

Daniel

"We have always stated we paid a full price. However, we are convinced that this combination will create value (EVA positive) after 3 years. Let’s keep in mind that a few months before the acquisition, we divested our pharma division also for a very full price of €11 billion. That transaction was used to pay for the ICI acquisition, I am now very pleased we could pay in cash. Our Decorative Paints business was centered in Europe, adding ICI made us also the world leader in Decorative Paints, adding significant positions in emerging markets including Asia and Latin America. Apart form the financial angle, I am also very pleased to see there is a very good cultural fit."

Ah the fabled Hans Wijers, who pulled the plug from Fokker. Any regrets about that?

Richard Weed, London

"That was a very long time ago, but still one of the most emotional processes to be involved in. It was by the way the German majority shareholder Daimler Benz that pulled the plug. I still believe it was right not to put unrestricted public money in a bankrupt company."

Times Recommends

• Gazprom brands Ukraine 'a barbarian' in gas row
• Services sector raises fears over UK jobless
• Retailers surge as profits survive sales plunge