Business Daily from THE HINDU group of publications
Thursday, Nov 20, 2008
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Business Daily from THE HINDU group of publications Thursday, Nov 20, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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New Projects Akzo Nobel unit setting up plant near Bangalore T. Murrali Chennai, Nov. 19 The Industrial Finishes division of the Rs 1,250-crore Akzo Nobel Group in India, is expanding capacity by setting up a new plant at its Hoskote premises, about 40 km from Bangalore. The Rs 50-crore new facility, for which the construction started today, would help the company become a hub for certain variety of coatings, initially for Asia Pacific region and later for the global operations of Akzo Nobel. The General Manager (Industrial Finishes) of the company, Mr Binoy Chakraborty, told Business Line that the company makes about three million litres of coil coatings a year and the new plant will add another 5.5 million litres a year. The new plant would envisage an investment of €8.5 million and the first phase of the project will be operational by early 2010, he said. At present, the company exports to neighbouring countries and with the new plant in place it would explore new markets including African countries, which will double the exports from the current level. The Industrial Finishes division of Akzo Nobel makes coatings for ‘coils’ (steel, aluminium and other metals) used in several applications including white goods industry and ‘specialty plastics’ used in mobile phones, laptops, sports gears and other high-end gadgets. With the demand from the existing customers increasing and also from multi national companies that are in the process of entering India, the company decided to set up the new facility, Mr Chakraborty said. No obligation on Akzo Nobel for ICI India open offer: SEBI ICI India up on Akzo Nobel bid `Akzo Nobel to enter emerging markets' More Stories on : New Projects | Engineering
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