ARNHEM, The Netherlands, March 20, 2003 (PRIMEZONE) -- Akzo Nobel (Nasdaq:AKZOY) has announced the official opening of its new powder coatings factory in Vietnam's commercial center, Ho Chi Minh City. Together with joint venture partner Chang Cheng Securities, the Company was the first to invest in powder manufacturing in Vietnam. The facility produces the full-range of Akzo Nobel's Interpon(R) powder coatings and is the company's 12th Powder Coatings site in the Asia Pacific region.
"This opening in Vietnam is another important landmark in our sustained efforts to build the geographic spread of our Powder Coatings business," said Rudy van der Meer, Member of the Akzo Nobel Board of Management responsible for Coatings. "It represents the latest in a series of strategic investments by the Coatings group in the Asia Pacific region.It also strengthens our leadership position in the Asian powder coatings market, which was boosted last year by the acquisition of the powder coatings business of Ferro Corporation in Asia Pacific and the Americas."
"It has always been our strategy to have a significant presence in every region and in every market segment, so that we may best serve our global powder customers -- wherever they operate," added Bill McPherson, General Manager of Akzo Nobel Powder Coatings."Since we commissioned the plant we have successfully transferred business to Vietnam which had previously been serviced from our other factories in the region. We are now servicing our customers on a local level with the full range of our products."
The factory is located on a 10,000 m2 site and currently employs a total of 80 people.
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2002 totaled EUR 14 billion. The Company currently employs approximately 68,000 people in more than 80 countries. Financial results for the first quarter will be published on April 16, 2003.
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" program, 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 worldwide.
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