AGP Executive Report

Semiconductors: ASML reported record third-quarter sales of €11.7 billion as AI investment drives demand for chipmaking tools. The company says supply will fall short through 2028 and is examining further manufacturing expansion. Coatings: AkzoNobel and Axalta have named their planned combined company Axanzo, marking a step toward a merger that would create a global coatings group. Water Technology: Brabant Water and Delft-based CIWI are piloting on-site production of ferric chloride for industrial water treatment, aiming to reduce reliance on external chemical supplies. Industrial Output: Dutch production rose 2.6% in August, while eurozone output fell 0.5% for a third straight monthly decline. Offshore Wind: DEME won a contract to install turbines at the 1 GW Dutch Zeevonk wind farm, adding to activity in the country’s offshore energy sector. Energy Storage: Royal Vopak and Vattenfall agreed a 400 MWh tolling deal for a Dutch battery project, supporting grid flexibility.

Semiconductors: ASML posted record third-quarter sales of €11.7 billion as AI demand outstripped planned capacity through 2028. Customers are already asking about equipment orders for 2029 and 2030. Energy Costs: Dutch gas futures hit a four-year high of €87.20 per megawatt hour, with low European storage adding pressure ahead of winter. Business Climate: Dutch bankruptcies rose 16% in September, Statistics Netherlands reported. Energy Storage: Vattenfall and Royal Vopak agreed a 400 MWh tolling deal for a battery project in the Netherlands. Offshore Wind: DEME won the turbine installation contract for the Zeevonk wind farm. EU Funding: The Netherlands received €661 million in recovery funds, supporting investments including offshore wind environmental protection and energy transition measures.

Semiconductors: ASML posted record third-quarter sales of €11.7 billion and profit of nearly €5 billion, lifting its 2026 sales outlook. AI demand is already outstripping planned supply for 2027 and 2028, and some customers are discussing orders through 2030. Food Retail: A cyber incident forced Ahold Delhaize to shut some systems, disrupting online services and parts of its distribution network. Stores remained open, but the company said it had no evidence customer or staff data was stolen. Dutch Manufacturing: VDL Groep plans to invest $77 million in its Georgia operation, creating about 120 jobs and expanding its high-tech manufacturing presence in the US. Clean Energy: Dutch development bank FMO committed $100 million to support renewable projects under construction in India. In the Netherlands, Vattenfall secured a 100-megawatt battery deal, while Port of Rotterdam joined the Global Methanol Alliance. Industrial Output: Dutch manufacturing production rose 12% year on year in August, its strongest growth since April 2022.

Manufacturing: Dutch engineering group VDL Groep will invest $77 million to expand its Georgia plant, adding 120 jobs and capacity for semiconductor equipment production. Food supply chains: A cybersecurity incident at Ahold Delhaize disrupted some distribution-centre systems, though checkouts remained operational. Energy: Dutch gas prices climbed to their highest level since 2022 amid supply concerns; Equinor and Eneco agreed a five-year gas deal, while Vattenfall secured a 100MW Dutch battery project. Infrastructure: BAM completed its roughly €500 million acquisition of pipeline and cable contractor A.Hak, supporting its UK expansion. In Rotterdam, Perpetual Next is preparing a biomethanol plant aimed at the shipping market. Economic outlook: Dutch manufacturing output rose 12% year on year in August, and the IMF expects the economy to grow 1.5% in 2026.

Retail Disruption: A cybersecurity incident at Ahold Delhaize has forced some systems offline, disrupting several Dutch distribution centres while checkouts continue to work. Energy Costs: Dutch TTF gas prices topped €86/MWh, the highest since December 2022, adding pressure as winter approaches. Industrial Growth: The IMF raised its 2026 Dutch growth forecast to 1.5%, while August manufacturing output was up 12% year on year. But grid congestion is still hampering factories’ sustainability efforts. Renewable Security: Dutch researchers and the NCSC identified 8,547 internet-accessible control systems at European wind and solar sites, warning that exposed equipment could put energy infrastructure at risk. Biomethanol: Perpetual Next signed a technology agreement to scale standardised plants, including a planned Delfzijl facility targeting 220,000 tonnes of annual production. Trade and Investment: Bangladesh asked the Netherlands to back an EU trade deal and expand cooperation in agriculture, energy, ports and water management.

Retail Cybersecurity: Ahold Delhaize took systems offline after a security incident, disrupting Albert Heijn’s app and deliveries. A separate attack on supermarket refrigeration systems in France also reportedly affected Dutch and Belgian stores, putting food stocks and supply chains at risk. Process Manufacturing: Dinnissen opened a 2,000-square-metre process validation centre in Sevenum, expanding facilities for testing industrial equipment and processes. Factory Decarbonisation: Grid congestion is hampering Dutch factories’ sustainability efforts, limiting their ability to electrify and cut emissions. Industrial Growth: Dutch industrial output rose 12% year on year in August, its strongest growth since April 2022. Infrastructure: BAM completed its €500 million takeover of Dutch infrastructure company A.Hak, strengthening its position in underground networks.

Retail Resilience: Cyberattacks disrupted refrigeration at French supermarket chains, forcing stores to discard fresh food. Separately, an IT incident took Albert Heijn’s app and delivery service offline; no link between the incidents was reported. Energy: Dutch TTF gas prices neared €83/MWh, their highest since early 2023, as Europe heads into winter with storage below seasonal norms. Defence: The Dutch defence minister urged allies to maintain Russia sanctions. MBDA’s chief said European governments remain divided over whether to buy more weapons from European suppliers. Mobility: China’s Li Auto plans to launch in the Netherlands in early 2027, with a Dutch parts centre and service network planned for December. Industry: Dutch industrial output posted its strongest growth since April 2022, while August manufacturing output was 12% higher year on year. Infrastructure: BAM completed its roughly €500 million acquisition of Dutch infrastructure firm A.Hak. Logistics: The Netherlands and EU are backing a planned €30 million cold-chain centre in Kenya to cut produce transport costs and emissions on routes to European markets.

Pharma: A Dutch court blocked sales of Merck’s injectable Keytruda in eight European markets, including the Netherlands, over a Halozyme patent. The ruling is provisional, and patent challenges are ongoing. Energy Security: Dutch researchers and the national cybersecurity centre found 8,547 European wind and solar sites reachable online; about 181 appeared to have controls that could affect operations. Shipping: South Korea’s Arctic trial voyage called at Rotterdam and reportedly cut one-way travel time to Europe by 10 days versus the Suez route, though sanctions and environmental risks remain. Construction: BAM completed its €500 million takeover of Dutch pipeline and cable contractor A.Hak, supporting its push to expand in the UK. Nuclear Energy: Hyundai E&C and Westinghouse moved ahead with front-end engineering studies for two proposed Dutch reactors.

Pharma: A Dutch court ordered Merck to stop producing and selling injectable Keytruda in eight European markets, including the Netherlands, over a patent dispute with Halozyme. Merck disputes the ruling. Transport: A power cut at Schiphol disrupted Eurostar services, forcing trains to skip the airport station. Shipping: South Korea’s first commercial Arctic round trip to Europe included a Rotterdam stop. The 50-day voyage is part of plans to develop a faster alternative route, though ice, environmental and geopolitical risks remain. Dutch Industry: BAM agreed to acquire infrastructure contractor A.Hak for €504 million as it targets UK growth. In Delfzijl, Perpetual Next and Lhyfe are exploring renewable hydrogen supplies for a biomethanol plant. Innovation: A Dutch AI company says it can design new polymers to specification in weeks.

EU Budget: Ireland’s draft for 2028–34 proposes an 8% cut to the bloc’s long-term budget, but Germany says the reductions are not enough. The Netherlands is among the countries seeking deeper cuts; proposed reductions to research and competitiveness spending could affect Dutch industries. Maritime Engineering: Damen Shiprepair Rotterdam rebuilt the former oil-survey ship OceanXplorer into an 87-metre research vessel, adding laboratories and facilities for deep-sea submersibles. Advanced Materials: TNO-backed spinout polySCOUT has launched in Amsterdam, using AI to design polymers to specification and produce lab-validated candidates in weeks rather than years. The technology could help manufacturers find replacements as EU restrictions on some chemicals tighten. Sustainable Logistics: FrieslandCampina plans to switch around half its milk-collection fleet to biomethane trucks in the Netherlands, Belgium and Germany, with some fuel made from farm manure.

Grid Constraints: Congestion is delaying around a quarter of Dutch housing projects, adding to permitting and municipal capacity problems. Grid operator Netbeheer Nederland says nearly half of homes seeking connections may have no capacity available over the next three years. Horticulture Tech: Dutch greenhouse suppliers are shifting China sales from complete greenhouse systems to software and system integration, where they still see an edge. Industrial Output: Dutch industrial output growth reached its strongest pace since April 2022, while manufacturing output in August was reported 12% higher year on year. Infrastructure: BAM agreed to acquire Dutch infrastructure firm A.Hak for €504 million, expanding its underground networks business. Food and Farming: Dutch onion exports hit record levels, while growers are testing rice as a crop that could help slow peatland subsidence. Low-Carbon Industry: Perpetual Next and Lhyfe are exploring renewable hydrogen supply for a planned Dutch biomethanol plant aimed at shipping.

Manufacturing: Dutch industrial output rose 12% year on year in August, its strongest growth since April 2022. Infrastructure: BAM has agreed to acquire Dutch contractor A.Hak in a €504 million deal, expanding its underground infrastructure business. Clean Fuels: Perpetual Next’s planned Dutch biomethanol plant is targeting shipping, with Lhyfe exploring renewable hydrogen supply for the Delfzijl project. Agriculture: Dutch onion exports have reached record levels, while growers in Zwaagdijk are testing crops and tackling new production challenges. Retail: Dutch online retailers are launching a scam-monitoring system after 1.2 million people were reportedly defrauded by fake webshops last year. Transport Manufacturing: Batavus, KOGA and Babboe will continue under new Singaporean ownership.

Industrial Output: Dutch manufacturing output rose 12% year on year in August, its strongest growth since April 2022. Supply-Chain Technology: Haarlem-based AIMMS named Jonathan Wood CEO and Soumya Basu chief product and technology officer, as it looks to expand its optimization software for complex supply chains. Advanced Manufacturing: A new project headquartered in Eindhoven aims to scale European production of thermal-imaging sensors, with manufacturing set to begin in 2027. Infrastructure: BAM completed its roughly €500 million takeover of Dutch pipeline and cable contractor A.Hak, supporting its push to grow in the UK. Clean Energy: Perpetual Next is planning a Dutch biomethanol plant aimed at shipping, and is exploring renewable hydrogen supply with Lhyfe.

Construction & Engineering: BAM completed its €500 million takeover of Gelderland-based A.Hak, adding pipeline and cable expertise as it pursues UK growth. Mobility: Germany is pushing for faster EU approval of Tesla’s supervised driving system after Dutch regulator RDW approved it in April. Semiconductors: ASML and Zeiss say next-generation chipmaking technology could be ready within a decade. Energy Transition: The Netherlands’ largest battery-storage system has come online, while Perpetual Next and Lhyfe explore renewable hydrogen for a biomethanol plant in Delfzijl. Westinghouse and Hyundai E&C have also signed engineering studies for two Dutch nuclear reactors. Infrastructure Security: Researchers found more than 8,500 European solar and wind systems exposed to cyber risks, raising concerns about vulnerabilities in renewable power networks.

Semiconductors: ASML and Zeiss say a next-generation lithography machine could be ready in about 10 years, potentially printing features as small as 5 nanometres. The “Hyper NA” technology could shape the future of chipmaking, though ASML has not committed to building it. Nuclear Energy: Hyundai E&C will join Westinghouse’s design studies for two proposed Dutch AP1000 reactors. Separately, Dutch reactor developer Thorizon and Urenco will explore a fuel supply chain for a molten salt reactor planned for Borssele. Renewable Power: A joint study by Dutch cybersecurity centre NCSC and Modat identified 8,547 internet-facing systems linked to European wind and solar projects, warning that exposed controls could put power generation at risk. Energy Storage: The Netherlands’ largest battery energy storage system has come online, adding capacity to balance a grid with growing renewable output. Clean Heat: The Dutch government plans to make hybrid heat pumps mandatory from 2029, a policy shift with implications for heating suppliers and installers.

Energy Security: Gate terminal’s fourth LNG tank is ready, lifting Dutch import capacity to 20 billion cubic metres. Dutch developer Giga Storage is also advancing a gigawatt-hour-scale battery project in Germany, while the government plans to make hybrid heat pumps mandatory from 2029. Grid Risks: Dutch researchers say thousands of European wind and solar systems are exposed online, raising fresh cybersecurity concerns for energy infrastructure. Industrial Innovation: University of Twente researchers have shown how nanoscale patterns in ultra-thin semiconductor layers can trap light energy, with potential uses in tiny light sources and optical sensors. Advanced Materials: Delft-developed self-healing concrete is gaining a new US distributor, bringing Dutch technology to more of the American construction market.