Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Akzo Nobel NV (AMS:AKZA) AkzoNobel has expanded its presence in China with the opening of a new site for the manufacture and sales of protective coatings in Suzhou, China, about 80 kilometers west of Shanghai.
At opening ceremonies on August 18, Leif Darner, the AkzoNobel Board of Management member responsible for Performance Coatings, noted that AkzoNobel has had a strong presence in China since the late 1980s and continues to expand its operations there. "China is clearly fundamental to our global strategic vision and we are committed to expanding our activities in what is one of the world's most important markets," said Darner. "Last year we outlined our new ambition to achieve revenues in China totaling USD 2 billion by 2012 and this investment will contribute in reaching this goal."
Marine &Protective Coatings General Manager Bill McPherson also spoke at the opening ceremonies. He pointed to the €23 million investment in the new facility as a clear sign of their commitment to China. "We have developed a business plan that will allow us to increase the capacity in steps over the next ten years and eventually reach an output of 50 million liters." He also stressed the importance of investing in laboratory facilities. "We see this step as an important one to support the growth of the business and meet customer requirements," he added.
Headquartered in London, UK, Marine & Protective Coatings is a global leader for marine paints and antifouling coatings used in shipbuilding and by yacht owners. Through the International® brand name, we manufacture fire retardant products as well as protective coatings for structures such as bridges and we have supplied a range of protective coatings products for some of the stadia for the Beijing Olympics.
---- Note to editors AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - pro forma 2007 revenue totaled €14.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today(TM).
Not for publication - for more information Akzo Nobel nv Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations, tel. +31 20 502 7856 Contact: Heleen van de Lustgraaf Contact: Dick Luijckx
