MOSCOW (MRC) -- AkzoNobel plans to expand production of its resins, said the Dutch-headquartered coatings producer.
Capacity expansions will take place at 23 productions sites worldwide over the next three years, with investment plans accounting for the sites, equipment and people needed to run them. This will enable AkzoNobel to become more self-sufficient and is expected to add between EUR15-20m in earnings before interest, tax, depreciation and amortisation (EBITDA) by 2023.
The added capacity will allow the company to build resilience against supply disruptions and reduce Scope 3 carbon emissions, in line with the firm’s target to reduce carbon emissions across the value chain by 50% by 2030. Resins are used as a binder to hold pigment particles together in the coating production process and provide adhesion to the coated surface.
Resins are a key ingredient for making coatings. They’re used as a binder to hold the pigment particles together and provide adhesion to the coated surface.
"All of our businesses use resins, and while we produce a good proportion of what we need ourselves, commodity and other specialty resins need to be sourced from third parties,” explains Michael Friede, AkzoNobel’s Chief Commercial Officer for Performance Coatings. “Further investing in our own resin capabilities will help us to secure sustainable business growth, as well as supporting our innovation pipeline and sustainability targets."
As per MRC, AkzoNobel has strengthened its paints business and footprint in Spain by completing the acquisition of 100% of the shares of Spanish decorative paints maker Titan Paints for an undisclosed fee. The transaction includes Titan Paints' three production plants in El Prat (Barcelona), Las Palmas (Canary Islands), and Maia in Portugal, seven logistics and service centers for decorative paints, the company said in a statement. Titan Paints generated sales of about EUR80m in 2019 and has 425 employees. The deal was first announced in October 2020.
AkzoNobel has started building a new powder coatings facility. The plant will appear in the city of Chungli (Taiwan). The enterprise will be a fully automated and environmentally friendly site. The assortment of the future plant includes materials to meet the needs of the growing market for furniture, household appliances, sports equipment, machine tools, automotive accessories, electronic components, telecommunications and architecture. The capacity of the object is not specified.
Akzo Nobel is the largest European manufacturer of paints and coatings. The company provides a wide range of products for both industrial, professional and home use, including building coatings, automotive paints, marine protective coatings, wood surface coatings, and space technology coatings.