AkzoNobel forms partnership in China to secure TiO2 supply for growing demand
(Thomson Reuters ONE) -
June 6, 2011
AkzoNobel has entered into a partnership in China with Quangxi CAVA Titanium
Industry Co. Ltd. for the production and supply of titanium dioxide (TiO(2)),
one of the most important raw materials in the production of paints and
coatings.
The collaboration - which includes the construction of a new TiO(2 )plant in
Qinzhou - will help to secure AkzoNobel's growing titanium dioxide raw
material needs for the Asian market. Financial details were not disclosed.
Rapid growth is expected within the global coatings and paints market and most
of this demand growth will occur in Asia, especially China. As a result, the
regional demand for TiO(2) will also rise.
"By entering into this partnership with CAVA, we will enhance security of supply
in Asia for a critical raw material," explained Werner Fuhrmann, AkzoNobel's
Executive Committee member responsible for Supply Chain and Sourcing.
Quangxi CAVA Titanium Industry Co. Ltd. was recently established to produce
titanium dioxide and is currently in the process of designing and constructing a
100,000 ton TiO(2) plant at an industrial site in Qinzhou. Production is
expected to start in early 2014.
"This is a strategic partnership which offers huge potential to further
integrate and expand our business portfolio," commented Mr Ke Genxi, Chairman of
CAVA Group. "I'm very pleased to partner with AkzoNobel and I'm sure that our
20 years of experience in ore operations, along with our own resources in this
venture, will contribute to a successful collaboration."
Titanium dioxide is by far the most widely used white pigment in the industry
because of its brightness and opacity. Approximately five million tons of
pigmentary TiO(2) are consumed annually worldwide, mainly in the coatings,
plastics and paper industries.
AkzoNobel is the largest global paints and coatings company and currently
employs around 6700 people in China, where revenue for 2010 totaled ?1.3
billion. The majority of revenue is generated from local demand. The company 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).
Guangxi CAVA Group is a respected and well-known company in Guangxi province,
active in the mineral and mining industries, real estate and property, as well
as international trade and logistics.
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Pdf file AkzoNobel press release:
http://hugin.info/130660/R/1521239/457421.pdf
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Source: Akzo Nobel NV via Thomson Reuters ONE
[HUG#1521239]
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Datum: 06.06.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 55302
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