AkzoNobel to add new plant at Ningbo site in China
(Thomson Reuters ONE) -
April 28, 2010
AkzoNobel is to build an additional plant at its Ningbo multi-site for its
Functional Chemicals business. The new ?17 million project - part of a total
investment of ?275 million - will further expand the company's rapidly growing
organic peroxides activities.
Production of chelates has already started at the location, while new ethylene
amines and ethylene oxide factories are also due to come on stream later this
year. The new unit is expected to be operational in late 2011.
"This latest addition to our Ningbo site will enable us to better serve our
growing customer base in the region," said Rob Frohn, the AkzoNobel Board member
responsible for Specialty Chemicals. "China in particular is fundamental to
AkzoNobel's strategy in high growth markets and Ningbo has a key role to play in
our plans for Specialty Chemicals."
The new organic peroxides plant will produce Perkadox 14 (used for different
types of rubber and thermoplastics) and Trigonox 101 (used for rheology control
of polypropylene and synthetic rubbers). They are used in industries such as
automotive, building and construction, as well as for durable goods. Demand for
both products, notably in Asia, is rapidly increasing.
Added Frohn: "We appreciate the continued support of the Ningbo government and
the local authorities, which has been vital in helping us to realize our
expansion plans."
The formal inauguration of the Ningbo site - which occupies a 50-hectare plot
and offers ideal opportunities for any future investments - will take place in
November this year. AkzoNobel has more than 6,000 employees and 25 locations in
China, with 2009 revenue in the country totaling around ?1 billion.
- - -
We're the largest global paints and coatings company and a major producer of
specialty chemicals. We supply industries worldwide with quality ingredients for
life's essentials. We think about the future, but act in the present. We're
passionate about developing sustainable answers for our customers. Based in
Amsterdam, the Netherlands, we are a Fortune 500 company and are consistently
ranked as one of the leaders on the Dow Jones Sustainability Index. We have
operations in more than 80 countries, where all our employees are committed to
excellence and delivering Tomorrow's Answers Today(TM).
Note to editors - not for publication
Corporate Media Relations
Contact: Oskar Bosson
Tel. +31 20 502 78 33
Corporate Investor Relations,
Tel. +31 20 502 7854
Contacts: Huib Wurfbain and Ivar Smits
[HUG#1409254]
Pdf file AkzoNobel press release: http://hugin.info/130660/R/1409254/361862.pdf
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Datum: 28.04.2010 - 13:00 Uhr
Sprache: Deutsch
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