Stock Name: Xinzhongde Stock Code: 430683
AkzoNobel Announces Expansion of Resin Production Capacity
发布时间：2022-03-29
Recently, AkzoNobel announced an investment plan to expand its internal resin production capacity, further advancing the company toward its "Grow & Deliver" strategic goal. The capacity expansion initiative has already begun rolling out.
This project aims to identify relevant opportunities, unlock additional value, and strengthen the company's self-sufficiency capabilities. By 2023, this investment is expected to contribute between €15 million and €20 million to the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA).
According to reports, this move will help the company build resilience against supply disruptions while also making a significant contribution toward achieving its established financial targets and its carbon-reduction goals for the upstream supply chain. Moreover, this investment plan aligns seamlessly with AkzoNobel’s “People, Planet, Paint” sustainability initiative, providing crucial support in the company’s journey to cut carbon emissions across its entire value chain by 50% by 2030—a target that is scientifically grounded, officially endorsed by the Science Based Targets initiative, and fully aligned with the Paris Agreement’s 1.5°C warming limit.
Michael Friede, Chief Commercial Officer of AkzoNobel’s High-Performance Coatings business, stated: "Resins are widely used across all of our business segments. While we can meet most of our resin supply needs through in-house production, we still rely on third-party procurement for certain bulk commodities and specialized resins. At the same time, further investment in our internal resin production capacity will not only support the sustainable growth of our business but also strengthen our ability to develop innovative products and align with our sustainability goals."
Expansion, targets, company, resin, investment plan, Nobel, production capacity, Akzo, sustainable development
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