07.28.22
Amsterdam, the Netherlands
www.akzonobel.com
MARKETS SERVED:
AkzoNobel reported paint and coatings sales of $9.99 billion for 2021. The company has approximately 32,800 employees and more than 200 manufacturing facilities and is active in more than 150 countries. Its portfolio of brands included Dulux, International, Sikkens and Interpon.
The transaction includes three production facilities and seven logistics and service centers for decorative paints, including one of the most modern manufacturing plants for water-based paints in Europe in El Prat de Llobregat, near Barcelona.
The business generated revenue of around €80 million. Titan Paints – which also has a relevant presence in Portugal – is one of Spain’s best-known brands. The business shares AkzoNobel’s commitment to sustainable product innovation, with much of its portfolio having received recognition for environmental performance.
AkzoNobel has also completed the acquisition of Colombia-based paints and coatings company Grupo Orbis, strengthening its long-term position in Latin America.
Present in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of around €360 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).
The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a range of products, creating several opportunities for revenue synergies. The deal was first announced in June 2021.
Paint the Future runs a variety of programs to accelerate innovation. Initially open to startups, it was quickly expanded to embrace academia, research institutes and two large groups of suppliers. As the ecosystem continues to grow and build on the success of each program, it’s become the largest in the industry.
The Paint the Future global startup challenge 2022 invited 10 selected finalists to take part in a three-day bootcamp in Amsterdam March 22-24. The startups and AkzoNobel experts met face-to-face to explore potential collaborations together.
The three winners of the Paint the Future global startup challenge are all set to accelerate their innovative solutions for the paints and coatings industry. Following an intense three-day bootcamp, these startups were selected by an international jury to continue working with AkzoNobel on sustainable business opportunities.
"Through Paint the Future, we’re bringing innovation and sustainability together as a key driver of our business,” says Thierry Vanlancker, AkzoNobel CEO. “In our ecosystem, we collaborate with startups, suppliers, customers and academia around exciting solutions that will ensure a more sustainable future.”
The winners of the Paint the Future global startup challenge – SolCold, Aerones and SprayVision – received their awards following an intense three-day bootcamp at AkzoNobel’s headquarters in Amsterdam.
“Collaborative innovation is truly transforming the paints and coatings industry,” says Klaas Kruithof, AkzoNobel’s chief technology officer and chair of the Paint the Future jury. “I’m looking forward to mixing the skills of these passionate entrepreneurs with our knowledge of paints and coatings. Together, we’ll bring our customers new solutions that go beyond imagination.”
Paint the Future startup challenges are designed to connect startups with industry knowledge and expertise to help accelerate their solutions in the paints and coatings industry. This Paint the Future global startup challenge launched May 18, 2021, attracting 245 submissions from 62 countries. Ten finalists were invited to Amsterdam to participate in the bootcamp program.
This is AkzoNobel’s second global startup challenge, following its industry-first predecessor in 2019. Regional startup challenges have since been held in Brazil (2020), China (2021), and most recently in India (2022).
www.akzonobel.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1994
REVENUE: $9.99 billion t (2021: $10.44 billion)
MARKETS SERVED:
Decorative paints; Marine and protective coatings; Auto and specialty coatings; Industrial and powder coatings
KEY EXECUTIVES:
Thierry Vanlancker, CEO, chairman of Board of Management and Executive Committee and Maarten de Vries, CFO and member of the Board of Management and Executive Committee.AkzoNobel reported paint and coatings sales of $9.99 billion for 2021. The company has approximately 32,800 employees and more than 200 manufacturing facilities and is active in more than 150 countries. Its portfolio of brands included Dulux, International, Sikkens and Interpon.
Recent Acquisitions
AkzoNobel has completed the acquisition of 100% of the shares of Industrias Titan S.A.U. (Titan Paints), strengthening its paints business and footprint in Spain.The transaction includes three production facilities and seven logistics and service centers for decorative paints, including one of the most modern manufacturing plants for water-based paints in Europe in El Prat de Llobregat, near Barcelona.
The business generated revenue of around €80 million. Titan Paints – which also has a relevant presence in Portugal – is one of Spain’s best-known brands. The business shares AkzoNobel’s commitment to sustainable product innovation, with much of its portfolio having received recognition for environmental performance.
AkzoNobel has also completed the acquisition of Colombia-based paints and coatings company Grupo Orbis, strengthening its long-term position in Latin America.
Present in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of around €360 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).
The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a range of products, creating several opportunities for revenue synergies. The deal was first announced in June 2021.
Paint the Future
Launched in 2019, Paint the Future is AkzoNobel’s global collaborative innovation ecosystem. It’s a bold initiative to accelerate, test, launch and scale ideas and solutions for the paints and coatings industry.Paint the Future runs a variety of programs to accelerate innovation. Initially open to startups, it was quickly expanded to embrace academia, research institutes and two large groups of suppliers. As the ecosystem continues to grow and build on the success of each program, it’s become the largest in the industry.
The Paint the Future global startup challenge 2022 invited 10 selected finalists to take part in a three-day bootcamp in Amsterdam March 22-24. The startups and AkzoNobel experts met face-to-face to explore potential collaborations together.
The three winners of the Paint the Future global startup challenge are all set to accelerate their innovative solutions for the paints and coatings industry. Following an intense three-day bootcamp, these startups were selected by an international jury to continue working with AkzoNobel on sustainable business opportunities.
"Through Paint the Future, we’re bringing innovation and sustainability together as a key driver of our business,” says Thierry Vanlancker, AkzoNobel CEO. “In our ecosystem, we collaborate with startups, suppliers, customers and academia around exciting solutions that will ensure a more sustainable future.”
The winners of the Paint the Future global startup challenge – SolCold, Aerones and SprayVision – received their awards following an intense three-day bootcamp at AkzoNobel’s headquarters in Amsterdam.
“Collaborative innovation is truly transforming the paints and coatings industry,” says Klaas Kruithof, AkzoNobel’s chief technology officer and chair of the Paint the Future jury. “I’m looking forward to mixing the skills of these passionate entrepreneurs with our knowledge of paints and coatings. Together, we’ll bring our customers new solutions that go beyond imagination.”
Paint the Future startup challenges are designed to connect startups with industry knowledge and expertise to help accelerate their solutions in the paints and coatings industry. This Paint the Future global startup challenge launched May 18, 2021, attracting 245 submissions from 62 countries. Ten finalists were invited to Amsterdam to participate in the bootcamp program.
This is AkzoNobel’s second global startup challenge, following its industry-first predecessor in 2019. Regional startup challenges have since been held in Brazil (2020), China (2021), and most recently in India (2022).
These are the three winners of the Paint the Future global startup challenge:
|
Startup |
Country |
Solution |
|
SolCold |
Israel |
Sustainable self-cooling coating based on |
|
Aerones |
Latvia |
Robotics for wind |
|
SprayVision |
Czech Republic |
Data-driven approach to optimal spray |
