The plans include investing in sites, equipment and the people needed to optimally run them. They were developed after an internal resins team was tasked with investigating opportunities to unlock more value and make the company more self-sufficient. The investment is expected to contribute around €15 to €20 million in EBITDA by 2023.
“It quickly became apparent that investing in our own resin capability was the way to go,” continues Friede. “It will enable us to secure raw material supply to optimally support our Grow & Deliver ambitions and, at the same time, we’ll look to generate extra value by leveraging and optimizing the volumes we don’t bring in-house with our network of external partners.
“We’re well aware that demand for resins is only expected to increase,” he adds. “Meanwhile, our resin manufacturing sites have extra production capacity available. So the decision to increase our investment in the production of resins at favorable economics is intended to add important value to our customers and our company.”
The investment is perfectly in line with AkzoNobel’s People. Planet. Paint. approach to doing business. It will specifically contribute to the company’s officially validated science-based sustainability target of reducing carbon emissions across the value chain by 50% by 2030. This target is also aligned with the 1.5˚C pathway of the Paris agreement.
For more details about People. Planet. Paint. visit www.akzonobel.com.
We supply the sustainable and innovative paints and coatings that our customers, communities – and the environment – are increasingly relying on. That’s why everything we do starts with People. Planet. Paint. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global industry leader. It’s what you’d expect from a pioneering paints company that’s committed to science-based targets and is taking genuine action to address globally relevant challenges and protect future generations.