AkzoNobel boosts growth momentum with China expansion
(Thomson Reuters ONE) -
March 23, 2011
AkzoNobel is to invest more than ?60 million in boosting production capacity for
its Bermocoll cellulose derivatives (paint and building material thickeners),
providing additional momentum for the company's accelerated growth strategy
which includes doubling revenue in China to $3 billion by 2015.
As well as constructing a new facility at its Ningbo multi-site in China, the
company will also debottleneck the existing manufacturing site in Örnsköldsvik,
Sweden. The two projects will increase capacity to close to 40,000 tons per
annum and elevate AkzoNobel to a global leadership position.
"This investment is all about meeting rapidly increasing customer demand and
seizing an ideal opportunity to become market leader by establishing production
in Asia," explained Rob Frohn, AkzoNobel's Board member responsible for
Specialty Chemicals. "High growth markets are central to our growth strategy and
adding a second production unit for Bermocoll in Ningbo will add further impetus
to our ambition to double revenue in China by 2015."
The debottlenecking project in Sweden is due to be completed by the end of this
year. The majority of the investment, however, has been earmarked for the new
plant in Ningbo, where the company's Functional Chemicals business already
operates facilities for chelates, ethylene amines and ethylene oxide. An organic
peroxides facility is also due to come on stream in 2011. The new Bermocoll unit
should be on stream in early 2013 and the funding allocated for this facility
will bring the total investment in Ningbo to more than ?320 million.
"Ningbo is the ideal location for the new facility as the infrastructure is
already in place and we have access to on-site production of ethylene oxide, as
well as being close to other key suppliers," added Managing Director of
AkzoNobel Functional Chemicals, Jan Svärd. "The fact that Asia is the world's
fastest-growing market also means that building the plant in China makes perfect
strategic sense."
Based on a natural polymer, the company's cellulose derivatives are sourced from
wood pulp or cotton linters. The main application areas are water-based paints,
building additives and pharma/healthcare.
AkzoNobel currently employs around 6,700 people in China, with revenue for 2010
totaling ?1.3 billion. The majority of revenue is generated from local demand.
The company now has 27 manufacturing locations in China.
- - -
AkzoNobel is the largest 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 a Global Fortune 500 company and are consistently ranked as one of the
leaders in the area of sustainability. With operations in more than 80
countries, our 55,000 people around the world are committed to excellence and
delivering Tomorrow's Answers Today(TM).
Note to editors - not for publication
Corporate Media Relations Corporate Investor
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Tel. +31 20 502 78 33 Tel.
+31 20 502 78 54
Contact: Oskar Bosson Contacts: Huib
Wurfbain and Ivar Smits
Pdf file AkzoNobel press release:
http://hugin.info/130660/R/1499192/434738.pdf
Infographic Bermocoll Production:
http://hugin.info/130660/R/1499192/434739.pdf
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Source: Akzo Nobel NV via Thomson Reuters ONE
[HUG#1499192]
Unternehmensinformation / Kurzprofil:
Datum: 23.03.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 52691
Anzahl Zeichen: 4543
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