On Tuesday, AkzoNobel provided a third quarter update as high macro-economic uncertainty, especially in Europe and China, led to near historical low consumer confidence. The company said that in anticipation, customers and channel partners in the paints and coatings industry are proactively destocking in these regions. According to the company, adjusted operating income is now […]
AkzoNobel Reports Revenue Up 14% in Second Quarter
Akzo Nobel N.V. (AKZA; AKZOY) reported revenue for the second quarter was up 14% to €2.853 billion ($2.909 billion) and 10% higher in constant currencies. The company reported its pricing up 16% companywide, offsetting the increase of raw material and other variable costs. Volumes were 9% lower. Operating income at €205 million ($209.05 million) was […]
AkzoNobel Acquires Lankwitzer Lackfabrik’s Aluminum Wheel Liquid Coatings Business
AkzoNobel announced an agreement to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. Completion, which is subject to regulatory approvals, and expected before the end of 2022. Lankwitzer’s Rims and Wheel business operates out of a manufacturing site in Leipzig, Germany. Its products are approved for use by car manufacturers such as Daimler, […]
AkzoNobel Named Exclusive Provider of Automotive Paints and Coatings to Lincoln Tech
Lincoln Educational Services Corporation (NASDAQ: LINC), a national leader in specialized technical training for more than 75 years, has entered into an agreement with AkzoNobel Coatings, Inc. Lincoln Tech’s Collision Repair and Refinishing Technology programs across the country will utilize paints and refinish coatings solely from AkzoNobel, as the two organizations strengthen their partnership following […]
Gregoire Poux-Guillaume to Become AkzoNobel’s New Chief Executive Officer on November 1
AkzoNobel announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1. He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end. Gregoire (52), a French national, is an international business […]
AkzoNobel Acquires African Paints and Coatings Business from Kansai Paint
AkzoNobel announced it is strengthening its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023. Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million […]
AkzoNobel’s Tim Ronak Joins CIECA Board
CIECA announced yesterday that Tim Ronak, senior services consultant for AkzoNobel, joined CIECA’s Board of Trustees, effective immediately. He will be representing the Society of Collision Repair Specialists (SCRS). “I’m excited to be part of the CIECA Board of Trustees and help develop and promote the next generation of industry standards,” said Ronak. “Without a […]
AkzoNobel Delivers Double-Digit Revenue Growth in First Quarter
Pricing in line with raw material inflation. Akzo Nobel N.V. (AKZA; AKZOY) revenue was €2,525 million ($2,737 million) up 12% in the first quarter of 2022 compared to last year and 10% higher in constant currencies, driven by strong pricing, up 17%. Pricing initiatives more than offset the increase of raw material and other variable […]
AkzoNobel and Microsoft Partner on Quantum Computing
AkzoNobel and Microsoft have teamed up to explore how quantum computing could help fast track the development of high-performance and more sustainable paints and coatings. Scientists from both parties will co-develop what will effectively be a virtual laboratory. The aim is to conduct experiments using quantum computing and other Microsoft Azure cloud services. Quantum chemical […]
AkzoNobel and Paint the Future Award Startups Sign Letters of Intent
Less than 24 hours after winning Paint the Future awards, three startups have already signed their letters of intent to continue working together on sustainable business opportunities with AkzoNobel. It’s the next step of a continuing collaborative innovation journey. The startups had the unique opportunity to explore their solutions with their mentors and industry experts […]
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