Latest news with #Guillaume
Time of India
12 hours ago
- Automotive
- Time of India
Akzo Nobel eyeing for long-term ties with JSW, exploring opportunities in aerospace, marine coating biz
Akzo Nobel NV, the Dutch multinational operating in paints and performance coating business, is looking for a long-term partnership with JSW Paints and it will continue to have "important presence" in India , where it is looking for a play in aerospace and marine coating space, said CEO Greg Poux-Guillaume. The company is retaining its powder coating business and R&D centre in India after transferring its stake in Akzo Nobel India Ltd (ANIL) to JSW Paints, part of Sajjan Jindal-led USD 23-billion JSW Group. Akzo Nobel NV will remain the technology partner to JSW Paints, with a 4.5 per cent royalty and licensing agreement, said Guillaume in a media round-table here. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo "So India remains a large and important presence for us. And it remains a significant market for us to tackle, but with powder and with things like aerospace," said Guillaume. About ANIL, he said it's an 'exciting time' as the firm is joining a group that has a track record and is owned by a family that has been visionary. Live Events "...this is a long term partnership and we will be JSW's technology partner for the coating businesses and that is for perpetuity and we will also look at opportunities to do things in other areas in which we were not historically present in India, because we have a lot of businesses that have potential applications in India," said Guillaume. Akzo Nobel has retained its powder coatings business and International Research Centre (R&D). These two units were transferred by ANIL earlier this February to its Dutch parent firm Akzo Nobel NV in a Rs 2,143-crore deal. When asked about his plans with these businesses, Guillaume said now powder coatings is a fast-growing business globally and has a lot of new applications. "One of the biggest ones these days is electric vehicles (EVs), because powder has not only coverage applications, but also electrical insulation applications. So it's really well suited to that. Most of the large electrical vehicle companies, like BYD in China, are customers," he said. Guillaume sees a "lot of potential" in the powder coatings business, in which Akzo Nobel NV is twice the size of the number two worldwide and will continue to push in that. Besides, the multinational firm is also looking for another vector for growth in India, such as aerospace coatings, in which it is a market leader globally and not present in India. "We are the market leader in aerospace coatings. If you take a plane, the likelihood that that plane is coated by Akzo Nobel is roughly 50 per cent and if you go into any maintenance facility for large planes, the likelihood that what you're seeing sprayed is Akzo Nobel is actually north of 50 per cent," he said, adding, "So we were not historically present in India because the market was still nascent but it's changing now." The aircraft maintenance facilities are increasingly in India, said Guillaume. "And at some point, it makes sense for us to have a physical presence too, and then we will decide whether we want to do it by ourselves or whether we want to do it with a friend," he said about the partnership. Speaking about India R&D centre, Guillaume said JSW gets the R&D centre for decorative paints; however, it retains it for its powder coating business. "But, we also have a large R&D centre for our coating businesses around the world, which is based in India. And which we retain. It's an integral part of us," he said. Guillaume said as per the agreement, JSW Paints will continue to pay 4.5 per cent royalty on the industrial coating business to the global entity. "Before, it was the Indian entity (ANIL) paying to the parent company, and now it is JSW paying to the parent company," he explained. Last week, while announcing the deal, Akzo Nobel NV said that from the sale of the stake in ANIL, it expects approximately 900 million euros, of which around 500 million euros will be used for deleveraging. It also intends to launch a 400 million Euro share buyback programme. When asked whether it also includes India, Guillaume said: "No, it's for a global company. We have a global shareholding base, actually 60 per cent of our investors are US investors." "And as part of a normal capital allocation for a large industrial as well as large global company, you invest in buybacks, you invest in acquisitions, and you also return capital to shareholders. That's part of the good hygiene of serviceicing your share-holders and rewarding them for their trust," he said, adding, "In this case, we felt that it was a good message to buyback some of our shares because we feel that right now we are undervalued, and deploying 400 million for buy back, shows that we are actually putting our money where our mouth is." Guillaume further added that India is the only country in the world where Akzo Nobel has a listed entity. "Otherwise, Akzo NV is a globally listed company" on the Dutch exchange with a market cap north of 10 billion euros, he added. JSW Paints Managing Director Parth Jindal said there would be a synergy between Akzo Nobel for its other business also besides decorative paints business, which it acquired from the Dutch multinational. "In industry, it's a very synergistic move because today JSW Paints is the number one player in coil coatings in the country. ANIL also has a very strong position in coil coatings and protective coatings. So together we'll become number one in that segment for sure. They are very strong in auto refinish. Again, we can definitely grow that with MG (JSW MG Motor) and others," he said, adding, "Those synergies will get unlocked." JSW MG Motor India is a joint venture between JSW Group and SAIC Motor (owner of MG Motor India). Akzo Nobel is also very strong in marine, and hence JSW "will double down" on that. "So aim is very clear that we want to grow. We want to grow fast. We want to grow sustainably, and we want to grow by being competitive," he said.
Time of India
a day ago
- Business
- Time of India
The inside story of how Parth Jindal came from behind to win the biggest prize of his career: Akzo Nobel India
Sometime around mid-May, a confident Parth Jindal was just about to pop the champagne he had just received as a gift from a senior official, almost certain that he had outbid competition to snap up his biggest prize to date --- the India business of Dutch major Akzo Nobel NV . A sudden message from the same official, also in the thick of the deal, threw him off kilter within 24 hours. It read: 'Twist in the Tale.' A revised counter, higher in value than JSW by around 7-8%, was sent directly to the supervisory board of Akzo Nobel NV in Amsterdam by the consortium of PE group Advent International and Indigo Paints, the other serious contender. Jindal, by then, already had improved his initial binding offer and was in pole position. The board was also made aware of the Supreme Court's decision from earlier that month rejecting the Rs 19,700 crore resolution plan submitted by JSW Steel for Bhushan Power and Steel Ltd. (BPSL) in 2019 and directed the initiation of liquidation proceedings. Suddenly what seemed like a slam dunk was not so straight forward for both Jindal and his counterpart Greg Poux-Guillaume - CEO, Akzo Nobel NV. Live Events ET spoke to multiple people to piece together how Jindal came from behind to snap up the business, as twists and turns and backroom negotiations made the paints M&A even more colourful than it seemed on canvas. Several spoke off the record as the negotiations were in private domain. An Indophile, Guillaume was very familiar with the Jindal family and their businesses. In his earlier stints in the power grid and industrial air pollution sectors with Sulzer, GE-Alstom Grid Solutions Business, he dealt and even visited JSW Steel's flagship Vijayanagar plant as a key supplier. There was also another connection: Between 2009 and 2011, Guillaume had also spent time in private equity at CVC Capital Partners as a Senior MD. The son of CVC's co-founder Rolly van Rappard was Parth's roommate for two years at Harvard Business School. 'So when he did a reference check on us, he heard things from him as well,' Jindal told ET. 'I've always been a fan of the Jindal family. There are a few successful Indian industrial families that are true entrepreneurs and stand out for having the same values,' said Guillaume. 'It's not just business acumen.' But when a board-run MNC has decided to exit a market as part of a global portfolio rejig, no professional CEO can ride rough shots over the board and ignore the best price on the table. 'Value is important since we have a fiduciary duty to our shareholders to extract the best value out of this transaction, but finding the right home for the business and having the right long-term partner is also invaluable,' he added. In Mumbai, at the JSW HQ, the key members of 'Project Lakshmi' -- the internal code name – including Sundaresan Arumbakkam, Joint MD and CEO of JSW Paints , and Parth Jindal had to immediately put on war paint and go into a huddle with their external deal advisors from Morgan Stanley as well as Jindal family's most trusted hand, Seshagiri Rao, former Group CFO, currently an advisor. ALL OR NOTHING Since January, Jindal had made his intentions clear. Akzo was the 'transformative deal' for his 6-year old paints venture that till date has only seen a middling growth while late entrants like Birla Opus from Grasim stormed the $9 billion Indian paints market. 'There is no choice,' Jindal said during WEF in Davos. 'I have to give everything I've got for Akzo Nobel India.' Four months down the line, it was tough to step away so late in the game. JSW Paints' offer was in fact the lowest after the non-binding stage was over in January. Both Pidilite Industries and Advent-Indigo made higher offers. So from get-go, it was time to crank up. From Geneva, Jindal flew directly to Amsterdam to meet the Akzo top brass, especially Guillaume. 'From Holcim days (which JSW Group lost to Adani), I have learnt it's important to strike a rapport with the international management,' quipped Jindal. 'Not that they would share anything extra in the middle of a transaction but chemistry is equally important. Much to my surprise, Guillaume was very familiar with our family. The moment I entered the room, he asked if I was the son of Sajjan, Navin or Ratan…(Parth's uncles are Navin and Ratan Jindal).' That bond got stronger when Guillaume visited India and met the team at JSW and even visited the Jindal residence to share a meal with the entire family, including group Chairman Sajjan Jindal and wife Sangita. BUSINESS LOGIC Chemistry aside, business wise JSW Paints and Akzo's operations are perfectly complementary. Dulux is a premium player in the decorative segment, the lion's share of the industry with a 9-10% market catering to primary urban centres while JSW Paints has been a mass player. But as a combined entity, JSW-Dulux (the likely name of the new company) will have more financial heft and market share nationwide. Together the two operations will have a Rs 6200 crore topline (decorative and industrial), inching close to the around Rs 6900 crore sales of the 3 rd in the market – Kansai Nerolac. The cumulative retail footprint of 28,000 will also have limited overlaps. This translates to a combined advertising muscle and helps doubling down on one brand. 'Despite its premium positioning, Dulux for years has remained under invested. We want to bring the mojo back,' explains Jindal. With competition intensifying, advertising and marketing (A&M) spends have gone up across the industry, squeezing margins. But now the joint budgets of around Rs 350 crore will be at his disposal. Akzo is also relinquishing the 3.5% royalty or Rs 80 crores that it charged from its Indian arm for decorative paints giving additional firepower to Jindal to take on larger incumbents Asian Paints or newcomer Birla Opus, both of whom is estimated to have spent Rs 450 crores on A&M alone. Jindal is willing to absorb the 'pain' in the decorative segment for the next 2-3 years. ' We are willing to even put a Rs 100 crore extra from our side to be in the top 3 in the share of voice,' he said. But the real game will be the industrial segment where Kansai Nerolac has strong links with Korean and Japanese steel and auto OEMs. 'We want to become the number one in industrial. We believe that with the technology of Akzo International, which we still have access to post this transaction, we will have a real shot at scaling up the industrial franchise and double it Rs 5000 crore over the next three years.' In all this, Pidilite remained the joker in the pack and were in parallel talks with JSW and Asian Paints and a few others, but they were only keen on the decorative business, leaving out the industrial piece. Their offer, though much higher than both Advent-Indigo and JSW, was only for a part. 'They wanted somebody else to take industrial,' said an official. 'JSW said in case they lose out, they will re-engage.' That wasn't necessary once Jindal matched the new offer but insisted both sides get into exclusivity by May end. Akzo and its observers were too happy to oblige. With the promoter family entities, their consortium of bank lenders and potential PE partners queuing up to show support and the chequebook, it was indeed time to pop that bottle.
The Sun
25-06-2025
- Automotive
- The Sun
Porsche Design Tower Bangkok Offers a Culinary Voyage into Iconic Living
STUTTGART, GERMANY / HONG KONG SAR - Media OutReach Newswire - 25 June 2025 - Porsche Design Tower Bangkok hosted an exclusive dinner event in a private estate villa in Hong Kong, offering esteemed guests a preview of the unparalleled luxury and lifestyle associated with Asia's first Porsche Design Tower. The exclusive event provided a taste of the exquisite experiences awaiting residents of the iconic Bangkok residence set to be completed in 2028. Within the sophisticated embrace of the private estate villa, overlooking the breathtaking panorama of Sai Kung – Hong Kong's 'back garden' of picturesque yachts, pristine beaches, and majestic mountains – guests experienced the essence of Porsche Design Tower Bangkok: a fusion of cutting-edge design, optimal functionality, and a passion for the finer things. The evening featured a Michelin-starred dinner course curated by Chef Guillaume, sommelier Victor Petiot from Four Seasons Hotel, and live jazz band entertainment. The opulent evening concluded with an exclusive Louis XIII cognac tasting, with guests savoring this legendary spirit with the CEO of Louis XIII. 'This exclusive dinner event was the perfect opportunity to introduce Porsche Design Tower Bangkok to discerning VIP guests,' said Chanond Ruangkritya, Founder & CEO of Ananda Development. 'We are thrilled to showcase the unique lifestyle that awaits residents of this groundbreaking residence.' Developed by Ananda and Porsche Design, the Porsche Design Tower Bangkok is an ultra-luxury residence on Sukhumvit 38. The tower features 22 exclusive 'Sky Villas' ranging from 525 to 1,135 square meters, with an average price of USD 15 million and up to USD 40 million. A key feature is the integration of 'Passion Spaces,' the ultimate luxury garage. An exclusive show unit is set to be launched in Q3 2025, offering a first look into the future of iconic living. About Porsche Design In 1963, Professor Ferdinand Alexander Porsche created one of the most iconic design objects in contemporary history: the Porsche 911. Following his vision to take the principles and myth of Porsche beyond the automotive world, he created the exclusive lifestyle brand Porsche Design in 1972. His philosophy and design language can still be seen in all Porsche Design products today. Every Porsche Design product stands for extraordinary precision and perfection, boasts a high level of technological innovation and seamlessly combines intelligent functionality and puristic design. Created by Studio F. A. Porsche in Austria, our products are sold worldwide in Porsche Design stores, high-end department stores, exclusive specialist retailers and the official online store (
New Indian Express
20-06-2025
- Climate
- New Indian Express
Paris makes clean water bet for River Seine bathers
Paris (France): A year on from athletes competing in the River Seine during the 2024 Paris Summer Olympics, French authorities guarantee the water will be safe for the public to swim in this summer. Parisians and tourists will be able to dive into the river from July 5, weather permitting, according to authorities. The public will be able to access three bathing sites at bras Marie in the heart of the historic centre, the Grenelle district in the west of Paris, as well as Bercy in the east. Last year, water treatment stations, holding tanks and connections to the Parisian boat sanitation system were installed. "For the Games, we cleaned up three quarters of the Seine. And the water was 100 percent ready for bathing on dry days," said Marc Guillaume, the prefect for the Ile-de-France region that includes Paris. According to Guillaume, the top state-appointed official for the region, the new bathing zones will be popular. This year, the weather is predicted to be drier than the record rainfall during the Games, which had led to the cancellation of six of the eleven competitions held the river. "It was an extraordinary moment (in 2024), but swimming during the Games was not an end in itself," Paris Mayor Anne Hidalgo had told reporters in May. "Making the Seine swimmable is first and foremost a response to the objective of adapting to climate change, but also of quality of life," she added.
Int'l Business Times
20-06-2025
- Sport
- Int'l Business Times
Paris Makes Clean Water Bet For River Seine Bathers
A year on from athletes competing in the River Seine during the 2024 Paris Summer Olympics, French authorities guarantee the water will be safe for the public to swim in this summer. Parisians and tourists will be able to dive into the river from July 5, weather permitting, according to authorities. The public will be able to access three bathing sites at bras Marie in the heart of the historic centre, the Grenelle district in the west of Paris, as well as Bercy in the east. Last year, water treatment stations, holding tanks and connections to the Parisian boat sanitation system were installed. "For the Games, we cleaned up three quarters of the Seine. And the water was 100 percent ready for bathing on dry days," said Marc Guillaume, the prefect for the Ile-de-France region that includes Paris. According to Guillaume, the top state-appointed official for the region, the new bathing zones will be popular. This year, the weather is predicted to be drier than the record rainfall during the Games, which had led to the cancellation of six of the eleven competitions held the river. "It was an extraordinary moment (in 2024), but swimming during the Games was not an end in itself," Paris Mayor Anne Hidalgo had told reporters in May. "Making the Seine swimmable is first and foremost a response to the objective of adapting to climate change, but also of quality of life," she added. Last year, Hidalgo dove into the Seine in front of journalists from around the world before the Games began. The historic swim signalled the end of years of efforts to clean the Seine and the river which flows into it, the Marne. Work had started in the 1990s, with an initial investment of more than nine billion euros (10.4 billion dollars) from the greater Paris sanitation authorities. Following initial efforts, the "bathing plan" leading up to the 2024 Paris Games was launched in 2016. The French state and local authorities had invested another 1.4 billion euros (1.6 billion dollars). The plan was focused on preventing the city's waste waters from flowing into the Seine. The mid-19th century Parisian sewage system often overflows on rainy days, causing rain and waste waters to pour into the river. Flags will inform bathers about pollution levels in the water every day, and if it rains the sites will likely close on the day after, said Paris city official Pierre Rabadan. "We're not tossing a coin, we're relying on scientific data," he said, adding that no athlete had fallen ill after swimming in the river last summer. The presence of the fecal bacteria escherichia coli (E. coli) and enterococci in the Seine will be assessed daily using live sensors and samples. According to the association France Nature Environment Ile-de-France, the planned tests are "insufficient". There are "many viruses which cannot be tested for" in the Seine, said honorary president of the association Michel Riottot. Swallowing too much water from the river could lead a person to catch hepatitis, gastroenteritis or skin diseases, former research engineer Riottot told AFP. Chemical pollution will not be measured either, added Riottot. "If there is occasional pollution upstream, we will be informed, so we will be able to take necessary measures," said Rabadan. The number of species of fish in the Seine increased from four in 1970 to thirty-six reported in February -- a sign that water sanitation has improved over the years. In early June, the Paris City Council gave legal rights and a personhood status to the Seine to protect its fragile ecosystem, as part of a global movement to grant legal personhood to nature. Last year, Paris Mayor Anne Hidalgo dove into the Seine in front of journalists from around over the world before the Games began. AFP Paris Mayor Anne Hidalgo bathes in the Seine with then President of the Paris Olympic Committee Tony Estanguet. AFP
