AkzoNobel has announced plans to invest more than €30 million in a manufacturing facility in Thailand to support regional growth of its Performance Coatings business.
The project, which is being supported by the Thailand Board of Investment, involves constructing a 120,000m2 site within the Hemaraj Eastern Seaboard Industrial Estate in Chonburi. Earmarked for an initial capacity of 45,000 tons per year, production is due to start in the third quarter of 2016.
The new plant will support several Performance Coatings businesses, including Metal Coatings, Protective Coatings, Specialty Coatings and Marine Coatings, as well certain products from the company's Decorative Paints business.
"By investing in this new facility we are supporting our continued growth within Thailand, as well as making progress with our regional business expansion strategy," explained AB Ghosh, Managing Director of AkzoNobel's Metal Coatings business. "A number of existing operations will be consolidated into the new site, allowing us to achieve world class operational standards."