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AkzoNobel Expands Production in India
Dutch multinational company AkzoNobel has broken ground on a new powder coatings plant in Mumbai, India, according to an announcement released Monday (Aug. 29).
The Mumbai factory will produce several lines new to the Indian market, including bonded metallic powders and localized products for markets such as pipe and rebar coatings, it said.
"Demand for powder coatings has been growing at double-digit rates in India and this facility will position us well to capture that growth," said Simon Parker, managing director of AkzoNobel's Powder Coatings business.
The addition of the new product lines will bring the company closer to its customers in the north and west of India, he added.
An Important Strategic Market
The new facility represents a €9 million (about $10 million) investment to allow the Amsterdam-based performance coatings maker to increase capacity in the region, which reportedly forms an important part of its organic growth plans.
"As the largest powder coatings company in the world, we regard India as being one of our most important strategic markets,” Conrad Keijzer, executive committee member responsible for Performance Coatings, said at the groundbreaking ceremony.
“Establishing the new facility in one of the world's fastest growing economics will give us additional momentum for our ambitious growth plans in the country," he added.
The new facility will complement AkzoNobel's existing plant in Bangalore, which is focused on supplying the south and east of the country, the company said.
In addition to the Bangalore site, AkzoNobel has five other manufacturing facilities in India, at Hyderabad, Mohali, Thane, Raigad and Gwalior, the Business Standard reported.
Start-up of the new Mumbai plant is scheduled for late 2017.
