AkzoNobel has released results for the fourth quarter and full-year 2020. The Dutch multinational company creates paints and performance coatings for both industry and consumers worldwide.
AkzoNobel are the makers of Sadolin Paints which is distributed in Kenya by Crown Paints.
AkzoNobel CEO, Thierry Vanlancker, commented said, “Our 2020 results demonstrate structural performance improvement from the first phase of our transformation. Despite COVID-19 headwinds, we rose to the challenge and delivered our 15 by 20 promise, achieving 15% return on sales and more than 20% return on investment.”
Manufacturers can now make their production process more efficient and sustainable after the company launched a new instant drying solution. The Rubbol 100% UV cured exterior range of Sikkens wood coatings can cut up to 16 hours of drying time. This means significant savings in production time and energy costs, as well as leading performance.
AkzoNobel stated that thousands of solar panels have been installed at two of their sites on two continents, as they continue to accelerate towards cutting carbon emissions in half by 2030.
The company has also launched a new bio-based wall paint in Vietnam. The paint contains natural sustainable ingredients, such as bamboo charcoal.
In its efforts to create a connection with startups in a key market, AkzoNobel will launch its next regional startup challenge in China in March 2021. The challenge joins a series of programs for startups, academia, research institutes and suppliers to collaborate and test, launch and scale revolutionary solutions together with AkzoNobel.
AkzoNobel and the Dutch Advanced Research Center Chemical Building Blocks Consortium (ARC-CBBC) have also innovated a method for making resins.
In its 2021 plan, the company targets to grow in line with its relevant markets. Although trends differ per region, margin management and cost-saving programs are in place to deliver 50 basis points increase in return on sales.