AkzoNobel to build new coatings plant in China to meet rising demand
(Thomson Reuters ONE) -
October 27, 2011
AkzoNobel is planning to invest around ?60 million to increase the production
capacity of its Automotive and Aerospace Coatings business in China. This
investment will provide additional momentum for the company's accelerated growth
strategy of achieving revenue of $3 billion in China by 2015, and strengthen
AkzoNobel's leadership position in the country's automotive refinishes market.
As well as constructing a new production facility in Changzhou, the company will
build related warehousing, quality control laboratories, support facilities and
offices on the new site. The project will increase capacity by around 25 million
liters and the site is projected to be operational in early 2014.
"This investment builds on last year's acquisition of Prime Automotive and is
all about meeting rapidly increasing customer demand," explained Leif Darner,
AkzoNobel's Executive Committee member responsible for Performance Coatings. "We
are also seizing an ideal opportunity to further strengthen our leadership
position."
Added Jim Rees, Managing Director of AkzoNobel's Automotive and Aerospace
Coatings business: "The automotive and aerospace market in China is forecast to
further increase steeply in the coming years and this investment will allow us
to capture our share of this growth. Changzhou is the ideal location for this
facility as there is a good infrastructure already in place and it is ideally
situated in the coatings 'center' of China, with close access to many of our
customers."
AkzoNobel currently employs around 6,700 people in China, with revenue for 2010
totaling ?1.3 billion, with a majority of the revenue generated from local
demand. The new site in Changzhou will be the company's 29(th) manufacturing
location 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).
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Source: Akzo Nobel NV via Thomson Reuters ONE
[HUG#1558207]
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Datum: 27.10.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 80833
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