AkzoNobel intends to invest an extra 65 million euros (84.1 million U.S. dollars) at its Chinese factories in Boxing and Ningbo, the Dutch paints, coatings and chemicals company said on Tuesday.The new investment will be used to boost the capacity and improve the performance of the surface chemistry manufacturing sites.According to AkzoNobel, half of the money will be spend on the company\'s facility in Shandong province, which was taken over as part of the acquisition of Boxing Oleochemicals in January 2012. In Ningbo, a new alkoxylation unit will be built, bringing the total investment at the site on 400 million euros.There is increasing demand for our specialty surfactant products across Asia and investing in Shandong province will ensure that we provide a strong local manufacturing operation in order to support our customers as they themselves continue to grow,\" said Werner Fuhrmann, AkzoNobel\'s Executive Committee member for specialty chemicals.\"Ningbo also remains fundamental to our growth ambitions in the region and has a crucial role to play as we continue to expand,\" Fuhrmann added.AkzoNobel currently employs more than 7,000 people in China, contributing to a total revenue in 2013 of 1.7 billion euros, mostly generated from local demand. (1 euro = 1.29 U.S. dollars)
GMT 09:54 2018 Tuesday ,23 January
Davos-bound bosses very upbeat on world economyGMT 09:37 2018 Tuesday ,23 January
Former KPMG executives charged in accounting oversight scamGMT 22:49 2018 Sunday ,21 January
Brexit special trade agreement possibleGMT 22:46 2018 Saturday ,20 January
China economy rebounds in 2017 with 6.9% growthGMT 22:37 2018 Saturday ,20 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 19:58 2018 Saturday ,20 January
Watchmakers hope to make Chinese market tickGMT 19:54 2018 Saturday ,20 January
US shutdown unlikely to harm debt rating: FitchGMT 19:50 2018 Saturday ,20 January
EU's Moscovici slams Ireland, Netherlands as tax 'black holes'

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor