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AkzoNobel announces expansion of resin capacity

 Last Update: 2022-04-25
 Source: Internet
 Author: User

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Sinochem News recently, AkzoNobel announced an investment plan to expand its internal resin production capacity, pushing 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 pursue relevant opportunities, unlock more value, and enhance the company's ability to be self-sufficient
.

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 upstream supply chains
.

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

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

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