AkzoNobel opens specialty coatings facility in Noida

The facility will cater to the demand of coatings from consumer durables and electronics industries

AkzoNobel inaugurates the specialty coatings facility in Noida — AkzoNobel officials inaugurating the specialty coatings facility in Noida

Last Updated : Jan 02 2017 | 2:48 PM IST

Dutch specialty chemicals company AkzoNobel has inaugurated specialty coatings production facility and colour laboratory in Noida (Uttar Pradesh) to service its customers in the consumer electronics, automobile and cosmetic industries.

With an investment of about Rs 3 crore, the new site will manufacture 600 kilo litre (KL) of coatings annually, thus catering to the localisation drive undertaken by many large companies. Being situated in India, the site will supply AkzoNobel’s coating systems faster to manufacturing companies in the country. Already commissioned, the facility is in its first phase; the second phase is likely to be completed very soon, with scope for further expansion.

“India is a key market for our growth strategy and this facility will enable us to further strengthen our position as a leading producer while supporting the supply network. Additionally, this market shows signs of a high demand for consumer durables and electronics. As demand and volumes rise, we will continue to fortify our footprint in high-growth economies such as India and leverage success models of other markets such as Korea, China and Vietnam. We are committed to organic and sustainable growth and are confident that this facility will enable us to serve our customers better,” explained Alberto Slikta, managing director, specialty coatings, AkzoNobel.

AkzoNobel is one of the leading producers of innovative solutions for the consumer electronics and automotive sectors. According to the Indian Brand Equity Foundation (IBEF), India is expected to become the fifth largest consumer durables market in the world by 2025. The consumer electronics market is expected to increase to $ 400 billion by 2020; the Indian automotive sector has the potential to contribute over 12 per cent to India’s gross domestic product (GDP). North India is pegged to be the hub of this sector and AkzoNobel’s new facility aims to cater to this growing demand. The size of the beauty, cosmetic and grooming market is growing fast as well and is expected to reach $ 20 billion.

AkzoNobel India currently operates six manufacturing sites and two research centres, along with a network of over 8,800 dealers and distributors.