Industry Press Releases

AkzoNobel India Inaugurates a First-of-its-kind Specialty Coatings Facility in Noida, Uttar Pradesh

Tuesday, Dec 27, 2016

AkzoNobel, a leading global paints and coatings company, has inaugurated the first-of-its-kind Specialty Coatings production facility and colour laboratory in Noida, Uttar Pradesh, a satellite town 25 km from New Delhi, to service its customers in the consumer electronics, automobile and cosmetic industries.

AkzoNobel creates everyday essentials to make people’s lives more liveable and inspiring. With an emphasis on caring for life, it offers sustainable options for the essential protection of coatings. With an investment of € 0.4 million (INR 3 crore), the new site will manufacture 600 kl of coatings annually, thus catering to the localisation drive undertaken by many large companies. Being situated in India, the site will supply AkzoNobel’s coating systems faster to manufacturing companies in the country. Already commissioned, the facility is in its first phase; the second phase is likely to be completed by the end of 2016, with scope for further expansion.

Alberto Slikta, Managing Director, Specialty Coatings, AkzoNobel, said, “India is a key market for our growth strategy and this facility will enable us to further strengthen our position as a leading producer while supporting the supply network. Additionally, this market shows signs of a high demand for consumer durables and electronics. As demand and volumes rise, we will continue to fortify our footprint in high-growth economies such as India and leverage success models of other markets such as Korea, China and Vietnam. We are committed to organic and sustainable growth and are confident that this facility will enable us to serve our customers better.”

AkzoNobel is a leading producer of innovative solutions for the consumer electronics and automotive sectors. According to the Indian Brand Equity Foundation (IBEF), India is expected to become the fifth largest consumer durables market in the world by 2025. The consumer electronics market is expected to increase to US $400 billion by 2020; the Indian automotive sector has the potential to contribute over 12 per cent to India’s Gross Domestic Product. North India is pegged to be the hub of this sector and this facility aims to cater to this growing demand. The size of the beauty, cosmetic and grooming market is growing fast as well and is expected to reach US $20 billion.

AkzoNobel India currently operates six state-of-the-art manufacturing sites and two research centres, along with a network of over 8,800 dealers and distributors.

About AkzoNobel India:

AkzoNobel creates everyday essentials to make people’s lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential colour to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Consistently ranked as a leader in sustainability, we are dedicated to energising cities and communities while creating a protected, colourful world where life is improved by what we do.

AkzoNobel India has been present in India for over 60 years and is a significant player in the paints industry. In 2008, the company became a member of the AkzoNobel Group. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Interpon. With employee strength of close to 1,900, AkzoNobel India has manufacturing sites, offices and a distribution network spread across the country. All manufacturing facilities have a state-of-the art environmental management system. Its commitment to Health, Safety, Environment & Security (HSE&S) has been among the best in class globally, with due care being taken to protect the people and the environment

Safe Harbour Statement:

This press release may contain statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ materially from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures.

 

Source: businesswireindia.com

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