AMSTERDAM, Netherlands, March 5, 2014 (GLOBE NEWSWIRE) -- AkzoNobel has completed the expansion of its Industrial Coatings site in Songjiang near Shanghai in China, doubling annual production capacity and creating the company's biggest plant for packaging coatings in the world.
Work started in 2012, when around €14 million was invested in the facility to add production lines for packaging coatings and epoxy and polyester resins. Now the largest site of its kind in the region, Songjiang will serve growing consumer demand from a number of key markets.
"China remains one of our most important growth markets," explained Conrad Keijzer, member of AkzoNobel's Executive Committee responsible for Performance Coatings. "By expanding capacity at our Songjiang site, we are well positioned to capture the ongoing demand from consumer and construction markets."
Added AB Ghosh, Managing Director of AkzoNobel's Industrial Coatings business: "We are very pleased to have started commercial production at the expanded Songjiang site. The extended capabilities and new product lines will not only help us to better serve customers in the country, but will also allow us to supply resins for our own local production of coil and packaging coatings."
The Songjiang facility employs close to 300 people and houses AkzoNobel's largest research and development center in China. The company is also expanding its activities in other parts of the country, with work ongoing at sites for Powder Coatings and Decorative Paints in Chengdu, a combined investment of €50 million in one of the fastest growing regions in China. In addition, a new regional office for western China is being inaugurated in Chengdu this week, which will house employees from several coatings businesses.
AkzoNobel currently employs more than 7,400 people in China, including 500 in research and development. In 2013, the company generated revenues of €1.6 billion, the majority coming 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 delivering leading products and technologies to meet the growing demands of our fast-changing world.
Not for publication - for more information
Corporate Media Relations
T +31 20 502 7833
Contact: Kirstin Steffen
Corporate Investor Relations
T + 31 20 502 7854
Contact: Sheryl Stokes
Safe Harbor Statement
This press release contains statements which address key issues such as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website www.akzonobel.com
AkzoNobel press release http://hugin.info/130660/R/1766293/599753.pdf
Source:Akzo Nobel NV