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Akzo Nobel, a member of the board of directors who is responsible for the functional coatings business, said that the Chinese market is critical to the company’s global strategic goals. This is one of the hottest key markets in the world.
According to reports, the newly completed Suzhou plant has an investment of 23 million euros. It is preparing to gradually increase production capacity in the next 10 years and finally reach an annual output of 50 million liters.
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AkzoNobel Coatings Suzhou Production Base
On August 18, AkzoNobel announced that its new plant in Suzhou for the production and sale of protective coatings was officially launched. At this point, the company has invested nearly 400 million U.S. dollars in China and will invest 250 million euros to build a diversified industrial base in Ningbo. Akzo Nobel’s goal is to reach US$2 billion in annual sales in the Chinese market by 2012.