Akzo Nobel Coatings to be the First Manufacturer of Powder Coatings in Vietnam.Business Editors ARNHEM, the Netherlands--(BUSINESS WIRE)--June 28, 2001 Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. (EURONEXT: AKZ AKZ Autobusni Kolodvor Zagreb (Croatian: Zagreb Bus Station; Croatia) , NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AKZOY), the international pharmaceuticals, coatings and chemicals group, together with joint venture partner Chang Cheng Securities, is set to become the first manufacturer of powder coatings in Vietnam. Akzo Nobel Chang Cheng will build a factory in Vietnam's capital Ho Chi Minh City Ho Chi Minh City, formerly Saigon, city (1997 pop. 5,250,000), on the right bank of the Saigon River, a tributary of the Dong Nai, Vietnam. to manufacture the full range of Akzo Nobel's Interpon(R) powder coatings. The company already operates three powder coatings facilities in China and Taiwan and is market leader in the region. "This investment in Vietnam is another building block in our strategy to keep growing our powder coatings business geographically," said Rudy van der Meer Van der Meer is a Dutch surname that simply means the phrase 'from the lake' in English. Many years ago, descendants would have lived from a lake in the Netherlands which is how the name first originated. , member of the Akzo Nobel Board of Management responsible for Coatings. "This is an important move into what is one of the growing economies in the Asia Pacific region. It follows on from our other recent start-up of a new powder coatings factory in Turkey, which opened earlier this year at a site in Izmir." "We believe Vietnam will be an important powder coatings market over the coming years" added Bill McPherson, General Manager of the recently created Powder Coatings business unit. "Powder Coatings in general is forecast to continue as one of the fastest growing coatings sectors, as the technology is increasingly seen as the preferred solution in a world which is strongly focused on environmental issues. "We have been exporting to Vietnam from our other powder coatings factories in the region for a number of years. By the end of last year, our sales had grown to a level where local manufacturing had become economically viable, and we felt we should further boost service levels to our customers by manufacturing locally." The factory will be built on a site of 10,000 sq metres and will employ 40 people by the end of next year. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2000 totaled EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 14 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 13 billion, GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 8.5 billion). The Company currently employs 68,800 people in more than 75 countries. Financial results for the second quarter of 2001 will be published on July 25, 2001. Akzo Nobel is the largest global manufacturer of powder coatings and is world leader in powder technology, with worldwide patents held in key areas of powder product and process technology. One example is the unique "Interpon Extra" programme, which uses patented Particle Management Technology to cut applied-costs and deliver significant quality benefits to powder users across a wide range of end uses world-wide. Internet: http://www.akzonobel.com http://www.interpon.com http://www.resicoat.com |
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