AkzoNobel announced it has completed the previously announced acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, a deal which strengthens the company’s performance coatings portfolio. The acquired business will complement AkzoNobel’s existing powder coatings offering and expand the range of products the company supplies. Operating out of a manufacturing site in Leipzig, […]
AkzoNobel Sustainability Challenge Partners to Collectively Reduce Carbon Footprint
Value chain partners have joined forces with AkzoNobel in the fields of circular solutions, process efficiency and solvent reduction in a determined effort to collectively reduce carbon emissions in the paints and coatings value chain. Five teams have been established following a recent Discovery Day, where results and learnings were presented from the first phase […]
AkzoNobel Podcast Examines Depth of Industry Challenge and Need to ‘Rethink’ the Vehicle Refinishing Future
With demand for driver-assisted and electric vehicles (EVs) increasing and repairs becoming increasingly complex, collision repair shops are having to re-tool with capital-intensive equipment to compete. A similar challenge is talent and the need to rapidly upskill the existing workforce while coping with labor shortages fueled by the recent pandemic and the imminent retirement from […]
AkzoNobel Named Global Refinish Partner for Electric Vehicle Manufacturer BYD
AkzoNobel (OTCMKTS: AKZOY) announced has become the global refinish partner for new energy vehicle manufacturer BYD Auto Sales Company Ltd., the world’s leading seller of electric vehicles. The company has been a recommended supplier of vehicle refinish products and services to BYD in China since 2017. The new deal means that agreement will continue, while […]
AkzoNobel Says Raw Material Supplies Normalizing in Q3 Financial Update
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 […]
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