‘Putting sustainability at the heart of how we do business will drive change both within Hempel and across our value chain through our products and services,’ explained Lars Petersson, group president & ceo, Hempel, of the sustainability framework launching February.
‘We see sustainability as a key enabler for growth, by helping our customers reach their sustainability targets.
‘Our target to double in size in the next five years makes our commitment to sustainability even more important, and we are ready to make some bold decisions as we accelerate.’
Geography, leadership, digitalisation
While still securing paint and coatings supply globally in a challenging 2020, acquisitions and investments in sustainability, innovation and digitalisation, as well as refocussed geographical priorities, focused segment leadership positions and M&A are areas now being looked at to achieve the 2025 deadline.
Hempel expects 50% of revenue growth to come from M&A, but the strategy also has an emphasis on building market leadership positions in four chosen segments: decorative, marine, infrastructure and energy. It anticipates more than 50% of revenue to arrive from sub segments and geographies, compared to less than 10% today.
‘We have been spread too thin and too shallow, and therefore we focus our business by exiting some geographies by own operation and strengthening others,’ added Petersson.
‘Alongside that we know that our customers need suppliers with end-to-end solutions and a deep knowledge and impact on the market. Based on this, we have started a transformation of how we sell and develop by building even stronger partnerships with a number of customers to truly understand their needs, future challenges and to co-create differentiated solutions.’