AMSTERDAM, Netherlands, Feb. 16, 2015 (GLOBE NEWSWIRE) -- AkzoNobel Performance Coatings has announced plans to invest €2.5 million to expand its plant in Cikarang, Indonesia.
The investment will add capacity to help meet growing demand for the company's International brand products, which are supplied by the Protective Coatings and Marine Coatings businesses. The project is expected to be completed by April 2015.
"The local market has been expanding over the last three years," explained Mauricio Bannwart, Managing Director of AkzoNobel's Protective Coatings business. "Further growth is now anticipated as Indonesia seeks to improve its position in the petrochemical and power sectors, while an improvement in marine new build is also anticipated."
News of the expansion comes after AkzoNobel recently invested a total of €5 million to add capacity for both its Marine Coatings and Protective Coatings businesses in Singapore and Sunshine, Australia.
Commenting on the new projects, Conrad Keijzer, the company's Executive Committee member responsible for Performance Coatings, said: "Our business in Asia has experienced double-digit annual growth during the last five years. These expansions will ensure that we are well positioned to meet customer demand going forward. By focusing our investment at key sites we are achieving economies of scale, allowing us to continuously improve our operational productivity."
AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. Calling on centuries of expertise, we supply industries and consumers worldwide with innovative products and sustainable technologies designed to meet the growing demands of our fast-changing planet. Headquartered in Amsterdam, the Netherlands, we have approximately 48,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International and Eka. Consistently ranked as one of the leaders in the area of sustainability, we are committed to making life more liveable and our cities more human.
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AkzoNobel News Release http://hugin.info/130660/R/1894666/671759.pdf
Source:Akzo Nobel NV