In the past two years, it acquired Titan Paints (Spain and Portugal), New Nautical Coatings (USA) and Grupo Orbis (Latin America). He predicts it will grow “at or above its relevant markets” in the years ahead and continues to buy back AkzoNobel common shares to raise the company’s value. To mollify shareholders upset by the cold-shouldering of PPG Industries, he has set AkzoNobel on an activist path. In 2017, AkzoNobel nixed several takeover bids from PPG Industries of Pittsburgh, Pa., causing shareholder turmoil that led to Thierry Vanlancker as CEO. CEO Thierry Vanlancker said his company responds to increases in raw materials with “strong pricing (that) allowed us to deliver a 2021 profit in line with the prior year.” AkzoNobel CEO Thierry Vanlancker At the end of 2021, it delivered its sixth consecutive quarter of revenue growth. In its 2021 annual report, AkzoNobel signaled it plans to expand globally. Its key brands are International, Interlux, Seahawk and Awlgrip. Completing the purchase, which needs regulatory approvals, is expected in 2023.ĪkzoNobel sells marine and protective coatings in the global boat and yacht sectors, generating revenues of €1.16 billion in 2021, up from €1.07 billion in 2020. The African acquisition is designed to boost AkzoNobel’s global foothold. It acquired three companies in Europe, North and Latin America in the last two years.Īnd this month, it announced that it is buying the paints and coatings activities in 12 African nations from Japan’s Kansai Paint. AMSTERDAM – AkzoNobel NV, the Dutch paints and coatings multinational, is on a buying spree to broaden its global foothold.
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