AkzoNobel boosts growth momentum with China expansion
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AkzoNobel boosts growth momentum with China expansion

11:13 AM, 30th March 2011
AkzoNobel boosts growth momentum with China expansion
Rob Frohn, Board member responsible for Specialty Chemicals, AkzoNobel.

With a focus on the growing Chinese market, AkzoNobel is to invest more than € 60 million in boosting production capacity for its Bermocoll cellulose derivatives (paint and building material thickeners).

 

AMSTERDAM, THE NETHERLANDS: AkzoNobel is to invest more than € 60 million in boosting production capacity for its Bermocoll cellulose derivatives (paint and building material thickeners), providing additional momentum for the company’s accelerated growth strategy which includes doubling revenue in China to $ 3 billion by 2015.

 

As well as constructing a new facility at its Ningbo multi-site in China, the company will also debottleneck the existing manufacturing site in Örnsköldsvik, Sweden. The two projects will increase capacity to close to 40,000 tons per annum.

 

“This investment will meet the rapidly increasing customer demand and seize an ideal opportunity to become market leader by establishing production in Asia. High growth markets are central to our growth strategy and adding a second production unit for Bermocoll in Ningbo will add further impetus to our ambition to double revenue in China by 2015,” said Rob Frohn, Board member responsible for Specialty Chemicals, AkzoNobel.

 

The new Bermocoll unit should be on stream in early 2013 and the funding allocated for this facility will bring the total investment in Ningbo to more than € 320 million.

(C) WOC News

 

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