AkzoNobel expands in China
AkzoNobel has inaugurated two new speciality chemicals plants at its multi-site in Ningbo, China, that together represent a combined investment of $87 million. The company has also announced that a further $98 million is to be invested in building a new speciality chemicals plant in Tianjin.
The new facilities in Ningbo are for the surface chemistry and polymer chemistry businesses. The site in Tianjin, to be located at the Nangang Chemical Park is also being constructed for the polymer chemistry business and will replace its existing plant in the area.
“There is increasing demand for innovative and more sustainable chemical products and these new facilities will enable us to continue meeting our customers’ growing needs,” said Werner Fuhrmann, AkzoNobel’s executive committee member responsible for specialty chemicals. “As well as enhancing our customer focus, these investments also highlight our focus on organic growth and our commitment to further strengthening our market positions in China.”
“Our investment in Tianjin demonstrates our commitment to maintaining our safety leadership position while fully supporting the growth of our customers,” added Fuhrmann.
Construction of the new Tianjin site will start towards the end of 2016. It is expected to be operational in late 2018.