Specialiy Chemicals Production Akzo Nobel Builds New Coatings Production in China
Dutch based speciality chemicals company Akzo Nobel plans to invest some € 60 millions in a new coatings production plant in Changzhou, East China.
Amsterdam/The Netherlands; Changzhou/PR China – Akzo Nobel has announced plans to invest some € 60 millions for its production of coatings in China. The company aims to construct new production facilities in Changzhou as well as additional warehouses, laboratories and support facilities in China. Company officials expect an increase of production by about 25 million liters fromthe investment, with a begin of productivity 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." The Changzhou site will be Azko Nobels 29th manufacturing location in China, where the company currently generates annual revenues of about € 1.3 billion (2010).