AkzoNobel plans to invest an additional US$100 million in Changzhou project

On February 28, Changzhou Mayor Ding Chun met with AkzoNobel North Asia Manufacturing Director Zhang Xudong and his delegation in Shanghai, and signed a project contract. Municipal and district leaders Zhou Bin, Liang Yibo, Hang Yong and Sheng Xiaodong participated.

AkzoNobel is committed to building a livable world with high-quality coatings and striving for excellence. The company is headquartered in the Netherlands and has footprints in more than 80 countries and regions around the world. In recent years, AkzoNobel has gradually increased its investment in the Chinese market, and China has become an important strategic growth area for the company.

AkzoNobel Functional Coatings (Changzhou) Co., Ltd. has continued to grow and develop since its establishment in Changzhou High-tech Zone in 2011 , with a current total investment of US$135.98 million and a registered capital of US$61.98 million, it mainly produces automotive refinishing paint and powder coatings. Changzhou powder coating base was officially put into operation in 2018 and is AkzoNobel’s largest powder coating factory in the world.

Based on the good investment environment in Changzhou, AkzoNobel Group plans to invest in a new building with an annual output of 16,000 yuan in Changzhou High-tech Zone tons of powder coatings and an annual output of 47,000 tons of functional coatings projects. The total new investment is expected to be US$100 million. The project is planned to start at the end of 2019. After all is completed and reaches capacity, the Changzhou factory’s annual sales will reach 3 billion yuan and tax revenue will reach 300 million yuan. .

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