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AkzoNobel to invest in organic peroxide operations in the US and Europe

AkzoNobel has announced plans to invest more than €20 million in its organic peroxide production facilities in Mons, Belgium, and Houston (Pasadena), Texas, in the US

AMSTERDAM, Netherlands, March 26, 2015 (GLOBE NEWSWIRE) -- In Mons, the company is introducing new technologies to increase efficiency at the site, which will result in increased capacity. The investment is part of a plan to establish a modern, centralized hub which can serve AkzoNobel's broad base of European and global customers more efficiently and effectively.

In Houston, the company is implementing a new site-wide process control system which is expected to significantly improve capacity and operational efficiencies while positioning the site to meet the increasing demands of US customers. Embedding efficiencies in the Pasadena operations will help the company to enhance its competitive position in the region, as well as supporting the manufacturing growth of its customers in the US, specifically in the Gulf Coast area.

Werner Fuhrmann, AkzoNobel's Executive Committee member responsible for Specialty Chemicals:

"Our Organic Peroxides business is a reliable performer in AkzoNobel's specialty chemicals portfolio. We have many leading market positions and a strong network of operations to meet the demands of a global marketplace. These targeted investments are focused on making gains in many areas, including operational efficiencies, which will help to strongly position our business for further growth in the polymer industry."

AkzoNobel is the world's leading producer of organic peroxides. The company's products are used by customers to manufacture polymers found in a wide range of applications, including plastic films, thermoplastics, natural and synthetic rubber, PVC used in pipes, and pharmaceutical products.

AkzoNobel operates a total of 11 organic peroxide manufacturing plants globally, including facilities in Los Reyes, Mexico; Ningbo, China; Mahad, India; and Itupeva, Brazil.

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, Eka, Kromasil and Expancel. 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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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 PDF http://hugin.info/130660/R/1906467/678765.pdf

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Source:Akzo Nobel NV