Global paints and coatings company AkzoNobel reinforced its commitment to the Indian market with the inauguration of its powder coatings facility, with an investment of Rs 65 crore. Located in Thane, Mumbai, this is AkzoNobel’s sixth facility in India.
Speaking at the inauguration ceremony, Thierry Vanlancker, CEO, AkzoNobel N.V. said, “India continues to be a high-growth market for AkzoNobel and the launch of the new powder coatings facility will only further strengthen our manufacturing footprint in the country. With this plant we intend to increase capacity in the region, which forms an important part of our organic growth plan.”
Sharing his views, Jayakumar Krishnaswamy, Managing Director, AkzoNobel India, said, “AkzoNobel India Powder Coatings has been delivering a strong profitable growth. The new facility plays a critical role in AkzoNobel India’s expansion plans and provides a boost to our access to the markets located in northern and western parts of India.”
The new facility will complement AkzoNobel’s existing plant in Bangalore, adding new product lines in bonded metallic powder and pipe and re-bar coatings.
AkzoNobel recently agreed to acquire the business of V. Powdertech Co. Ltd., a leading Thai manufacturer of powder coatings, supplying a range of products for domestic appliances, furniture and general industrial applications.