AkzoNobel Announces Expansion of Resin Capacity

Recently, AkzoNobel announced an investment plan to expand its internal resin production capacity, driving the company to make steady progress towards its "Grow & Deliver" strategic goal. 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. The investment is expected to contribute between EUR 15 million and EUR 20 million in earnings before interest, taxes, depreciation and amortization (EBITDA) by 2023.

According to reports, this move will help the company build the ability to withstand supply disruptions, while also making an important contribution to achieving the company's established financial goals and carbon reduction goals for the upstream supply chain. In addition, this investment plan aligns with AkzoNobel’s “People, Planet, Paint” sustainability plan, providing an important contribution to helping the company achieve its sustainability goal of reducing carbon emissions across its value chain by 50% by 2030 support. This target is based on scientific planning, has been officially certified by the Science-based Carbon Reduction Initiative, and is in line with the 1.5°C temperature control target of the Paris Agreement.

Michael Friede, chief commercial officer of AkzoNobel's Performance Coatings business, said: "Resins are used in a wide range of our business areas. While we can meet most of our resin supply needs through our own production, commodity and other specialty resins still need to be sourced from Third-party procurement. At the same time, further investment in in-house resin capacity will contribute to the sustainable growth of the business and provide strong support for us to develop innovative products and achieve sustainable development goals.”