AkzoNobel plans further investment in China
(Thomson Reuters ONE) -
March 19, 2013
AkzoNobel has announced its intention to invest a further ?65 million in China.
The investment will be used to boost capacity and significantly improve
operational excellence at AkzoNobel's Surface Chemistry manufacturing sites in
Boxing and Ningbo.
More than half the money is being invested in the company's facility in Shandong
province, which was taken over as part of the acquisition of Boxing
Oleochemicals in January 2012. As well as building a multipurpose reactor to
expand local production capacity for amines, significant funds are also being
made available to align HSE practices at the site with the rest of AkzoNobel.
In Ningbo, a new alkoxylation unit will be built, bringing the total investment
at the multi-site close to the ?400 million mark.
"There is increasing demand for our specialty surfactant products across Asia
and investing in Shandong province will ensure that we provide a strong local
manufacturing operation in order to support our customers as they themselves
continue to grow", said Werner Fuhrmann, AkzoNobel's Executive Committee member
responsible for Specialty Chemicals. "Ningbo also remains fundamental to our
growth ambitions in the region and has a crucial role to play as we continue to
expand."
Added Bob Margevich, Managing Director of AkzoNobel's Surface Chemistry
business: "The investment in Shandong province will enable us to stay
competitive and will enhance our manufacturing footprint in a key strategic
region. The improved process capabilities and increased production capacity will
furthermore strengthen our leadership position in specialty surfactants. It's
also crucial that we maintain stringent HSE standards at all our sites, so we
are taking all the necessary steps to ensure the best possible working
environment for our employees."
As part of the investment decision, AkzoNobel will exit the merchant fatty acid
business in Boxing, closing down two out of three fatty acid plants at the site,
affecting about 200 employees.
AkzoNobel's Surface Chemistry business is a global leader in the manufacture and
supply of specialty surfactants, synthetic and bio-polymer additives, and
specialty polymers. These products are used as formulation ingredients and
process aids in many applications, ranging from home and personal care to
asphalt road paving.
AkzoNobel currently employs more than 7,000 people in China, with 2012 revenue
totaling ?1.7 billion, the majority being generated from local demand.
- - -
AkzoNobel is a leading global paints and coatings company and a major producer
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers for
our customers. Our portfolio includes well-known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are
consistently ranked as one of the leaders in the area of sustainability. With
operations in more than 80 countries, our 50,000 people around the world are
committed to excellence and delivering Tomorrow's Answers Today(TM).
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Contact: Paul Thomas
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Contacts: Jonathan Atack and Sheryl Stokes
Pdf file AkzoNobel press release:
http://hugin.info/130660/R/1686202/552668.pdf
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Source: Akzo Nobel NV via Thomson Reuters ONE
[HUG#1686202]
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Datum: 19.03.2013 - 08:01 Uhr
Sprache: Deutsch
News-ID 240664
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