AkzoNobel shuts Wapenveld (NL) & Machelen (BE) facilities, affecting 300 jobs. Part of €150M cost-saving plan to optimize global operations.
Key Developments
✅ Facilities Closed:
- Wapenveld, Netherlands (Decorative Paints)
- Machelen, Belgium (Performance Coatings)
✅ Reason: Streamlining operations under “Paint the Future” cost-cutting initiative
✅ Impact: ~300 jobs affected across both sites
✅ Timeline: Phased shutdown completed in Q2 2024
Strategic Rationale Behind the Closures
1. Cost Optimization & Efficiency Focus
- Part of AkzoNobel’s €150 million annual savings target
- Follows 2023 announcement to reduce 1,800 positions globally
- Shifts production to larger, more competitive facilities
2. Market-Driven Adjustments
- Wapenveld: Declining demand for local decorative paint production
- Machelen: Consolidation of powder coatings manufacturing
3. Sustainability-Led Restructuring
- Redirects investments toward high-growth markets & sustainable solutions
- Aligns with carbon neutrality goals by closing older, less efficient plants
Employee & Community Impact
⚠ Job Losses: ~300 positions terminated (negotiated severance packages offered)
🔄 Redeployment: Some staff relocated to other AkzoNobel sites
🏭 Local Economy: Reduced industrial activity in both regions
AkzoNobel’s Forward Strategy
🔹 Growth Priorities:
- Expanding in Asia-Pacific and emerging markets
- Ramping up water-based and low-VOC coatings production
🔹 Recent Moves: - 2023: Acquired Lankwitzer Lackfabrik (Germany) for automotive coatings
- 2024: Opened €100 million plant in Vietnam
Industry Reactions
“These closures reflect the harsh realities of the European coatings market—overcapacity and rising costs are forcing tough decisions.”
– Chemical Industry Analyst, ICI