AkzoNobel Builds Coatings Plant in India
AkzoNobel has broken ground on a new powder coatings plant in Mumbai, India. Capacity details were not revealed for the facility scheduled to start up in late 2017. The plant, which will cost €9 million, will complement the Dutch company’s existing factory in Bangalore, which supplies the south and east of the country.
“We regard India as being one of our most important strategic markets. Establishing the facility in one of the world’s fastest growing economies will give us additional momentum for our ambitious growth plans in the country,” commented Conrad Keijzer, executive committee member responsible for performance coatings.
The Mumbai plant will produce several lines new to the Indian market, including bonded metallic powders and localized products for markets such as pipe and re-bar coatings. These new product lines will bring the company closer to its customers in the north and west of India, AkzoNobel said, adding that demand for power coatings in India has been growing at double-digit rates.