AMSTERDAM, THE NETHERLANDS--(Marketwire - Mar 19, 2013) - AkzoNobel has announced its
intention to invest a further EUR65 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 EUR400 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 EUR1.7 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™.
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
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