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Akzo Nobel N V S/ADR (symbol: AKZOY) is a globally recognized leader in the paints and coatings industry, providing sustainable and innovative products that serve both industrial and consumer markets. The company operates in over 150 countries, supplying a diverse range of high-quality brands such as Dulux, International, Sikkens, and Interpon.
With a strong commitment to sustainability and innovation, AkzoNobel has consistently advanced its product offerings and services. Notable achievements include the Aerofleet Coatings Management system, a digital service that utilizes data to optimize paint maintenance schedules for aircraft, reducing costs and environmental impact. This advanced system leverages manual and drone-operated inspections to create a comprehensive database for fleet management, enhancing the precision of maintenance needs and extending the life span of aircraft coatings.
Expanding its technological footprint, AkzoNobel has invested in a pilot manufacturing plant in Huron, Ohio, and a new regional research and development center in High Point, North Carolina. These facilities aim to transform manufacturing processes through data analytics and expedite the flow of information from research to production, enhancing agility and customer satisfaction.
AkzoNobel's impact extends to the transportation industry, where its Aerospace, Powder, and Yacht Coatings businesses significantly contribute. For instance, the company supports major tourist attractions in North America, such as the Brooklyn Bridge and the Bellagio Hotel, with its innovative products. Moreover, collaborations like the one with Southwest Airlines® highlight AkzoNobel's expertise in aerospace coatings, as seen in the vibrant redesign celebrating the airline's anniversary in Hawaii.
In the realm of sustainable architecture, AkzoNobel presented cutting-edge solutions at the International Greenbuild Conference in Washington, D.C. The company's eco-friendly coatings are instrumental in achieving green building certifications, enhancing indoor air quality, and reducing carbon footprints. Notable projects include the Uber Headquarters in San Francisco and the 30 Hudson Yards building in New York City, both of which have earned LEED certifications.
Recently, AkzoNobel showcased its latest innovations at METALCON 2023 and the Specialty Equipment Market Association (SEMA) Show. The company introduced products like CERAM-A-STAR® Select Frost and demonstrated its digital tools, such as the Canopy App, for efficient color matching in metal coatings. At SEMA, AkzoNobel highlighted collaborations with custom car builders, displaying vehicles finished in its premium automotive paints.
AkzoNobel continues to lead the industry with a robust commitment to sustainability, technological innovation, and customer-focused solutions, aiming to achieve ambitious science-based targets and address global challenges. For more information, visit the company’s website or explore their extensive product range, which is making a meaningful difference worldwide.
AkzoNobel (AKZOY) has introduced the Aerofleet Coatings Management system, enabling airlines to optimize paint maintenance schedules for their fleets. This digital management system helps determine repaint needs based on actual coating condition rather than fixed schedules, potentially reducing costs and increasing aircraft availability by up to a year. The service collects data from manual and drone inspections, creating detailed aircraft histories, including coating types and flight path data. It aims to decrease repainting frequency, benefiting airline finances and minimizing waste. The launch is part of a broader initiative under AkzoNobel Aerospace Business Solutions.
On January 25, 2023, AkzoNobel (AKZA; AKZOY) announced a significant milestone in its sustainability journey, achieving 100% renewable electricity across all its North American sites. This step is part of its ambition to cut carbon emissions by 50% by 2030, aligning with the Paris Agreement. The company, the first in its sector to set science-based sustainability targets, has had its goals validated by the Science Based Targets initiative. Notable strategies include enhancing energy efficiency and expanding solar power usage. AkzoNobel aims to reduce emissions throughout its entire value chain, benefiting operations and partners alike.
AkzoNobel North America announced the successful first year of operation of its solar farm at the Garcia, Mexico facility. The solar project, completed in July 2021, has reduced dependence on fossil fuels by 83% and is expected to cut carbon emissions by 414 tons annually. The installation consists of 1,656 solar panels covering 54,000 sqft, projected to save $110,000 in energy costs per year. AkzoNobel aims to achieve 100% renewable energy across all sites by 2030, having already reached this goal at 44 locations worldwide.
AkzoNobel (AKZOY) has completed a €300 million share buyback, repurchasing 3,361,162 ordinary shares at an average price of €89.25 per share. The final repurchase occurred between April 12-16, 2021, totaling €19.05 million. These shares will be cancelled to enhance shareholder value. Additionally, the company plans to initiate a €1 billion share buyback set for completion by Q1 2022. This action is within the guidelines established by the Annual General Meeting and complies with the Market Abuse Regulation.
AkzoNobel (AKZOY) has initiated a share buyback program, repurchasing 117,771 common shares between March 29 and April 1, 2021, at an average price of €95.82, totaling €11.28 million. This is part of a broader program valued at €300 million that commenced on October 21, 2020, with 3,082,812 shares repurchased so far for €272.41 million. The company plans to cancel the repurchased shares and will continue to update the market regularly during this process.
AkzoNobel (AKZOY) repurchased 230,800 shares from March 22 to March 26, 2021, at an average price of €94.63, totaling €21.84 million. This is part of a €300 million share buyback program announced on October 21, 2020, with 2,965,041 shares repurchased so far for €261.13 million. The program aims to enhance shareholder value and is expected to be completed in the first half of 2021, with shares planned for cancellation. The buyback complies with regulatory guidelines and will have ongoing updates provided to the market.
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