30/11/2011

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AkzoNobel to invest EUR 45 million at Ningbo plant

The new facility will expand AkzoNobel Functional Chemicals' DCP production capacity by more than 30 % to 25 000 t 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 company's multi-site. The announcement coincided 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 company'ss Ningbo site announced to date is nearly EUR 370 million. AkzoNobel currently employs over 6,700 people in China, and its 2010 revenue totalled EUR 1.3 billion. The majority of revenue is generated from local demand. The company's ambition is to achieve revenue of USD 3 billion (CNY 20 billion) in China by 2015.

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