AkzoNobel opens state-of-the-art vehicle refinishes plant in China

AMSTERDAM, Netherlands, Oct. 24, 2014 (GLOBE NEWSWIRE) -- AkzoNobel has started operations at its state-of-the-art vehicle refinishes plant in Changzhou, China - the company's 30th manufacturing facility in the country.

The new factory adds around 25 million liters of capacity for Sikkens, Lesonal and Prime vehicle refinishes products and strengthens AkzoNobel's position as one of the leading players in China's vehicle refinishes and commercial vehicle OEM markets, building on its acquisition of Changzhou Prime Automotive Ltd. in 2010.

"The Changzhou site is designed to help us meet rapidly increasing customer demand, not only from domestic suppliers, but also from our global automotive customers that have business in China," explained Simon Parker, Managing Director of AkzoNobel's Vehicle Refinishes business.

He added that the Chinese vehicle refinishes market is worth around €750 million and has been growing at around 10 percent a year. "Changzhou is the ideal location for this facility," continued Parker. "A good infrastructure is already in place and it is ideally situated in the coatings 'center' of China, with close access to many of our customers."

Commenting on the start of operations, Conrad Keijzer, the AkzoNobel Executive Committee member responsible for Performance Coatings, said: "The new plant in Changzhou underlines our commitment to investing in China and strengthens our ability to manufacture locally developed product, particularly for the fast-growing mid-tier vehicle refinishes market."

AkzoNobel currently employs more than 8,000 people in China. Revenues totaled €1.6 billion in 2013, with 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 delivering leading products and technologies to meet the growing demands of our fast-changing world.

Not for publication - for more information

Media Relations:
T +44 191 402 2320
Contact: Andrew Wood
Corporate Investor Relations
T +31 (0)20 - 502 7472
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

Press Release AkzoNobel http://hugin.info/130660/R/1865511/655113.pdf


Source:Akzo Nobel NV