Akzo Nobel to invest in new chemicals plants in China.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. , Arnhem, The Netherlands, has announced that it will invest 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. 250 million to build two new chemicals plants in China. As announced in the fall of 2006, the company has reserved a 50-hectare plot within the Ningbo Chemical Industry Zone (NCIZ) in Ningbo, China. The new facilities--to be built for the manufacture of ethylene amines amines (  mēnz´),n.pl organic compounds that contain nitrogen. and chelating agents--will be the first two to be constructed on the site, which will become one of the biggest Akzo Nobel sites in the world. The chelating agents chelating agents (kē`lātĭng). Certain organic compounds are capable of forming coordinate bonds (see chemical bond) with metals through two or more atoms of the organic compound; such organic compounds are called chelating agents. plant is expected to start up in 2009, followed by the ethylene amines facility in 2010. The plants will create several hundred new jobs and will meet "high, self-imposed standards for eco-efficiency," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company. "China is an extremely important market for us and we are having to respond to growing demand for our products. We plan to make further investments in grass roots chemical production facilities in Ningbo at the appropriate time," says Leif Darner darn·er n. 1. One that darns. 2. Northeastern, Upper Northern, & Western U.S. See dragonfly. See Regional Note at dragonfly. , the Akzo Nobel Board member responsible for Chemicals. The two plants will be "similar in size and scope" to the company's existing plants in Europe and the United States, says Jo Lennartz, general manager of Akzo Nobel's Functional Chemicals business. "We will also install the capacity to manufacture our own key raw materials. We have chosen Ningbo for these investments because its location just south of Shanghai and its excellent transport links will enable us to supply the growing needs of our customers in China and the entire Asia Pacific region." Akzo Nobel currently operates two production sites in Ningbo, for polymer chemicals and powder coatings. |
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