ARNHEM, Netherlands, March 6, 2002 (PRIMEZONE) -- Akzo Nobel Coatings (Nasdaq:AKZOY) is investing EUR 12 million in its powder coatings facility at Cernobbio in Italy. The move represents the launch of an expansion plan which will double powder production capacity at the site.
"Italy is the largest powder coatings producing country in Europe and the second largest in the world after the United States," said Rudy van der Meer, Member of the Akzo Nobel Board of Management responsible for Coatings. "Powder coatings were introduced in Italy in the 1960s and are now firmly established as the number one finishing choice across a wide range of market sectors. When complete, this overall expansion plan will make our Cernobbio plant the largest single production unit for thermosetting powder coatings in the world. This investment is a significant step and will further strengthen our position as global market leader in powder coatings."
Bill McPherson, General Manager of Akzo Nobel's business unit Powder Coatings, added: "We have purchased 22,000 sq. meters of land neighboring our existing powder coatings site and this provides the much-needed space to expand manufacturing. We have also made a significant investment in our second powder coatings facility at Argenta (Italy)-- which doubled its production capacity over the last two years."
Gabriele Camorani, General Manager of the Akzo Nobel Powder Coatings business in Italy, explained: "From a geographic viewpoint, Italy has traditionally been a leading supplier of powder coatings to Eastern European countries -- and Akzo Nobel is one of the leading exporters to those countries. This investment will help us respond to the rapidly increasing demand from those territories. It will also increase our speed of response to orders, which is critical to customers in our main target markets, including architectural metal, domestic appliances and metal furniture."
Note for the editor
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2001 totaled EUR 14 billion. The Company currently employs approximately 66,000 people in 80 countries. Financial results for the first quarter will be published on April 23, 2002.
Akzo Nobel manufactures thermosetting powder coatings at over 20 facilities around the world. The business operates under the common global business brand of "Interpon Powder Coatings". The "Interpon(r)" product brand is marketed to architectural metal, automotive components, domestic appliance, as well as to a range of industrial market sectors, key amongst which are metal furniture and IT equipment. The "Resicoat(r)" product brand is marketed to the so-called "Functional" markets, which include anti-corrosion protection for pipeline, valves and fittings, reinforcing steel (rebar) as well as electrical insulation for a rang of component industries.
Internet: www.akzonobel.com www.interpon.com www.resicoat.com
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