AkzoNobel has announced plans to invest a total of more than $67 million in China to build new manufacturing facilities for its powder coatings and decorative paints businesses. Both new facilities will be located in Chengdu with the powder facility scheduled to open in 2014 and the deco site starting production in 2015.
The announcement follows the recent start-up of commercial production of Bermocoll cellulose derivatives at the company's multi-site in Ningbo, which will serve the growing demand from customers throughout the region, as well as from AkzoNobel's own decorative paints business. Cellulose derivatives are used in water-based paints and building additives applications.
AkzoNobel currently employs more than 7,700 people in China, including 500 in research and development. Revenue for 2012 was $2.3 billion, the majority being generated from local demand.