Akzo Nobel N V Stock Price, News & Analysis

AkzoNobel (AKZOF) has formed a strategic partnership with IPG Photonics to revolutionize powder coating technology through laser curing solutions. The exclusive agreement covers the EMEA region and involves calibrating AkzoNobel's Interpon powder coatings for IPG's laser technology. The innovative process uses a "cold oven" approach where lasers selectively heat the coating, reducing curing times from 15-20 minutes to just a few minutes.

The technology offers significant advantages: over 50% reduction in investment and operational costs, smaller space requirements, and substantial energy savings. The process is particularly suitable for temperature-sensitive substrates and eliminates long cool-down waiting times in production lines, while significantly reducing carbon footprint.

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.