Jun 4, 2012. Despite economic recession, the global paints and coatings company AkzoNobel still commits to boost investment in Vietnam, as well as prioritize innovation to better meet customers’ demand.
AkzoNobel has announced the completion of a major phase of an ongoing plant expansion in Vietnam, which will add momentum to the continued growth of the company’s decorative paints business in South East Asia. Around €13 million has been invested in the production facility in Binh Duong Province in order to optimize operations and help meet growing customer demand in the region.
AkzoNobel Decorative Paints has been continuously investing in the South East Asia region with several plant expansions. The plant in My Phuoc Industrial Zone in Ben Cat District in Binh Duong Province is the latest addition. The Binh Duong Plant was built in September 2007 with an initial investment of €8 million, in a 60,000-square-meter area.
AkzoNobel’s recent investment expansion will greatly boost production capacity of its plant in Binh Duong. Its current decorative paint output of 60 million liters per year is expected to mount to 100 million liters per year when the plant is totally finished in 2016.
Jeremy Rowe, Managing Director of AkzoNobel Decorative Paints for South East Asia & Pacific, notes that besides Indonesia, Vietnam is one of the countries that AkzoNobel invests in heavily in South East Asia because the company believes in the local market’s strong growth potential. The business in Vietnam currently occupies the number one position in decorative paint in the country.