3. AkzoNobel




CEO/Chairman of the Board of Management: Thierry Vanlancker

2020 Coatings Sales: Approx. $10.44 billion (€8.53 billion)

With operations in more than 150 countries, AkzoNobel is a leader in the manufacture of paints and coatings. In 2020, revenue in each region of the world was the following: Mature Europe — 37%; Asia-Pacific — 29%; North America — 12%; South America — 8%; Emerging Europe — 10%; and other regions
— 4%. Volumes were 4% lower in 2020 compared to 2019, mainly due to the impact of COVID-19 on demand.

AkzoNobel has two business units: Decorative Paints and Performance Coatings. In 2020, sales in the decorative paints segment were, €3.558 billion compared to €3.670 billion in 2019. Sales in the performance coatings segment were €4.957 billion in 2020, compared to €5.549 billion in 2019. Brands for the Decorative Paints business unit include Coral, Dulux, Flexa, Hammerite, Sadolin and Sikkens. Main business operations within the Performance Coatings business unit include Automotive and Specialty Coatings, Marine and Protective Coatings, and Industrial and Powder Coatings. Brands include Awlgrip, International, Interpon and Sikkens.

Notes: In March of 2020, AkzoNobel announced the acquisition of the remaining 25% stake in AkzoNobel Boya Sanayi ve Ticaret A.S., a leading powder coatings joint venture in Turkey. On April 1, 2020, the company announced it had strengthened its position in Sub Saharan Africa with the acquisition of 100% of the shares of Mauvilac Industries Ltd., a leading paint and coatings company in Mauritius. The transaction included a local production facility, four concept stores and access to a strong distribution network. AkzoNobel announced the acquisition of Stahl Performance Powder Coatings and its range of products for heat-sensitive substrates in September 2020. The deal gives the company accelerated access to unique low-curing technology that will open up new market opportunities. In December of 2020, AkzoNobel announced its acquisition of privately owned New Nautical Coatings, headquartered in Clearwater Beach, Florida, and owner of the Sea Hawk yacht coatings brand. The acquisition increases AkzoNobel’s presence in the North American yacht coatings market. In March 2021, AkzoNobel announced it had completed the acquisition of Titan Paints in Spain, one of the best-known brands in the country. The transaction included three production facilities and seven logistics and service centers for decorative paints.

Source: AkzoNobel 2020 Annual Report, press releases