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AkzoNobel announces expansion of resin production capacity

Categories:Industry information
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Time of issue:2022-03-29 15:45
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(Summary description)Recently,AkzoNobelannouncedaninvestmentplantoexpanditsinternalresinproductioncapacity,promotingthecompanytomakesteadyprogresstowardsthestrategicgoalof"grow&deliver".Atpresent,thecapacityexpansionplanhasbeenimplemented. Theprojectaimstoseekrelevantopportunities,unlockmorevalueandenhancethecompany'sself-sufficiency.Itisexpectedthatthisinvestmentwillcontribute€15millionto€20millioninEBITDAby2023. Itisreportedthatthiswillhelpthecompanybuildtheabilitytoresistsupplyinterruption,andmakeanimportantcontributiontotheachievementofthecompany'sestablishedfinancialobjectivesandcarbonreductionobjectivesfortheupstreamsupplychain.Inaddition,thisinvestmentplanisconsistentwithAkzoNobel's"people,planet,paint"sustainabledevelopmentplanandprovidesimportantsupportforhelpingthecompanyachievethesustainabledevelopmentgoalofreducingcarbonemissionsofthewholevaluechainby50%by2030.Thegoalisbasedonscientificplanning,hasbeenofficiallycertifiedbythescientificcarbonreductioninitiativeandisconsistentwiththe1.5℃temperaturecontrolgoaloftheParisAgreement. MichaelFriede,chiefcommercialofficerofAkzoNobel'shighperformancecoatingsbusiness,said:"Resinsarewidelyusedinallourbusinessareas.Althoughwecanmeetmostoftheresinsupplydemandthroughourownproduction,bulkcommoditiesandotherspecialresinsstillneedtobepurchasedfromthirdparties.Atthesametime,furtherinvestmentininternalresinproductioncapacitywillcontributetothesustainablegrowthofourbusinessandprovidestrongsupportforourresearchanddevelopmentofinnovativeproductsandtheachievementofsustainabledevelopmentgoals."

AkzoNobel announces expansion of resin production capacity

(Summary description)Recently,AkzoNobelannouncedaninvestmentplantoexpanditsinternalresinproductioncapacity,promotingthecompanytomakesteadyprogresstowardsthestrategicgoalof"grow&deliver".Atpresent,thecapacityexpansionplanhasbeenimplemented. Theprojectaimstoseekrelevantopportunities,unlockmorevalueandenhancethecompany'sself-sufficiency.Itisexpectedthatthisinvestmentwillcontribute€15millionto€20millioninEBITDAby2023. Itisreportedthatthiswillhelpthecompanybuildtheabilitytoresistsupplyinterruption,andmakeanimportantcontributiontotheachievementofthecompany'sestablishedfinancialobjectivesandcarbonreductionobjectivesfortheupstreamsupplychain.Inaddition,thisinvestmentplanisconsistentwithAkzoNobel's"people,planet,paint"sustainabledevelopmentplanandprovidesimportantsupportforhelpingthecompanyachievethesustainabledevelopmentgoalofreducingcarbonemissionsofthewholevaluechainby50%by2030.Thegoalisbasedonscientificplanning,hasbeenofficiallycertifiedbythescientificcarbonreductioninitiativeandisconsistentwiththe1.5℃temperaturecontrolgoaloftheParisAgreement. MichaelFriede,chiefcommercialofficerofAkzoNobel'shighperformancecoatingsbusiness,said:"Resinsarewidelyusedinallourbusinessareas.Althoughwecanmeetmostoftheresinsupplydemandthroughourownproduction,bulkcommoditiesandotherspecialresinsstillneedtobepurchasedfromthirdparties.Atthesametime,furtherinvestmentininternalresinproductioncapacitywillcontributetothesustainablegrowthofourbusinessandprovidestrongsupportforourresearchanddevelopmentofinnovativeproductsandtheachievementofsustainabledevelopmentgoals."

Categories:Industry information
Time of issue:2022-03-29 15:45
Views:

Information

Recently, AkzoNobel announced an investment plan to expand its internal resin production capacity, promoting the company to make steady progress towards the strategic goal of "grow & deliver". At present, the capacity expansion plan has been implemented.

The project aims to seek relevant opportunities, unlock more value and enhance the company's self-sufficiency. It is expected that this investment will contribute € 15 million to € 20 million in EBITDA by 2023.

It is reported that this will help the company build the ability to resist supply interruption, and make an important contribution to the achievement of the company's established financial objectives and carbon reduction objectives for the upstream supply chain. In addition, this investment plan is consistent with AkzoNobel's "people, planet, paint" sustainable development plan and provides important support for helping the company achieve the sustainable development goal of reducing carbon emissions of the whole value chain by 50% by 2030. The goal is based on scientific planning, has been officially certified by the scientific carbon reduction initiative and is consistent with the 1.5 ℃ temperature control goal of the Paris Agreement.

Michael Friede, chief commercial officer of AkzoNobel's high performance coatings business, said: "Resins are widely used in all our business areas. Although we can meet most of the resin supply demand through our own production, bulk commodities and other special resins still need to be purchased from third parties. At the same time, further investment in internal resin production capacity will contribute to the sustainable growth of our business and provide strong support for our research and development of innovative products and the achievement of sustainable development goals."

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