AkzoNobel announces â‚¬45 million investment at Ningbo plant
November 18, 2011
AkzoNobel has announced its intention to invest â‚¬45 million in a new Dicumyl
Peroxide (DCP) plant at its Ningbo multi-site in China to meet a growing local,
regional and global demand. Widely used as cross-linking agent for various
polymers and copolymers, DCP can be found in a variety of products like shoe
soles, cable insulation and construction insulation.
The new facility will expand AkzoNobel Functional Chemicals' DCP production
capacity by more than 30 percent to 25,000 metric tons and allow for future
expansion as the market continues grow. Expected to be completed by mid-2014, it
will be the fifth plant built on the multi-site and benefit from the shared
infrastructure and state-of-the-art facilities.
According to Rob Frohn, Executive Committee member responsible for Specialty
Chemicals: "The demand for our products is rapidly growing and by expanding and
improving our facilities we will continue to meet our customers' needs in China
and around the world."
Today's announcement coincides with the inauguration of one of AkzoNobel's other
Ningbo plants, which also manufactures organic peroxides: Perkadox 14 (used for
different types of rubber and thermoplastics) and Trigonox 101 (used for
rheology control of polypropylene and synthetic rubbers).
The Ningbo site currently produces chelates, ethylene amines and ethylene oxide,
in addition to the aforementioned projects. The total investment in the
AkzoNobel's Ningbo site announced to date is nearly â‚¬370 million.
AkzoNobel currently employs over 6,700 people in China, and its 2010 revenue
totaled â‚¬1.3 billion. The majority of revenue is generated from local demand.
The company's ambition is to achieve revenue of $3 billion (RMB 20 billion) in
China by 2015.
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AkzoNobel is the largest global paint and coatings company and a major producer
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers for
our customers. Our portfolio includes well known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are a
Global Fortune 500 company and are consistently ranked as one of the leaders in
the area of sustainability. With operations in more than 80 countries, our
55,000 people around the world are committed to excellence and delivering
Tomorrow's Answers Today(TM).
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