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
Boxing and Ningbo.
More than half the money is being invested in the company's facility in
province, which was taken over as part of the acquisition of Boxing
Oleochemicals in January 2012. As well as building a multipurpose reactor
expand local production capacity for amines, significant funds are also
made available to align HSE practices at the site with the rest of
In Ningbo, a new alkoxylation unit will be built, bringing the total
at the multi-site close to the EUR400 million mark.
"There is increasing demand for our specialty surfactant products across
and investing in Shandong province will ensure that we provide a strong
manufacturing operation in order to support our customers as they
continue to grow", said Werner Fuhrmann, AkzoNobel's Executive Committee
responsible for Specialty Chemicals. "Ningbo also remains fundamental to
growth ambitions in the region and has a crucial role to play as we
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
furthermore strengthen our leadership position in specialty surfactants.
also crucial that we maintain stringent HSE standards at all our sites, so
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
business in Boxing, closing down two out of three fatty acid plants at the
affecting about 200 employees.
AkzoNobel's Surface Chemistry business is a global leader in the
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
totaling EUR1.7 billion, the majority being generated from local demand.
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AkzoNobel is a leading global paints and coatings company and a major
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers
our customers. Our portfolio includes well-known brands such as Dulux,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are
consistently ranked as one of the leaders in the area of sustainability.
operations in more than 80 countries, our 50,000 people around the world
committed to excellence and delivering Tomorrow's Answers Today™.
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Source: Akzo Nobel NV via Thomson Reuters ONE