Akzo Nobel Opens New Coatings Site in China.Business Editors ARNHEM Arnhem (är`nəm), Ger. Arnheim, city (1994 pop. 133,670), capital of Gelderland prov., E Netherlands, a port on the Lower Rhine. It is an industrial, transportation, and tourist center. , the Netherlands--(BUSINESS WIRE)--Sept. 27, 2001 Today, 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 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. Board of Management responsible for Coatings, opened a new production site in Suzhou, near Shanghai Shanghai (shăng`hī`, shäng`hī`), city (1994 est. pop. 12,980,000), in, but independent of, Jiangsu prov., E China, on the Huangpu (Whangpoo) River where it flows into the Chang (Yangtze) estuary. in China. The facility, which was built over the past year, will house three of Akzo Nobel's core businesses: car refinishes, powder coatings Powder coating is a type of dry coating, which is applied as a free-flowing, dry powder. The main difference between a conventional liquid paint and a powder coating is that the powder coating does not require a solvent to keep the binder and filler parts in a liquid suspension and transportation coatings and will give these businesses enhanced access to the rapidly expanding Chinese market. "Akzo Nobel has been active in China since the 1980s, but business really got off the ground at the beginning of the 1990s when the Board of Management asked the business units to focus more on Asia and China in particular. In addition, Akzo Nobel China was set up as a country organization to support our business units and to facilitate their local development," said Rudy van der Meer at a press conference during the opening. "In the past five years, our sales in the country have quadrupled to 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. 300 million, stemming from both organic growth and acquisitions. Akzo Nobel now employs 1,500 people in China." In China, Akzo Nobel currently has 15 operations, including 10 production facilities, representing its three areas of business: Pharma, Coatings and Chemicals. One major operation is a 50-50 joint venture; all other operations are majority or wholly-owned. The Suzhou site opened today, and a Wood Coatings plant in Dongguan City, which will be opened shortly, are 100% Akzo Nobel facilities. The monochloroacetic acid plant under construction in Taixing is also wholly- owned. "These investments aim to strengthen our position in China and will enable us to respond quickly and flexibly to market demands," added Mr. Van der Meer. "The facilities will serve as a platform for further expansion in the region. It is one of Akzo Nobel's stated strategic goals to increase our market share in the fast growing Asian economies, and we consider China a key market." 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 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 67,500 people in more than 75 countries. Financial results for the third quarter of 2001 will be published on October 24, 2001. This press release is also accessible online at www.Waymaker.net. |
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