AkzoNobel says it intends to invest a further €65 million in China.
More than half the money is being invested in the company’s facility in the Shandong province, taken over as part of the acquisition of Boxing Oleochemicals, Boxing, China, in January 2012, as well as building a multipurpose reactor to expand local production capacity for amines. Significant funds are also being made available to align HSE (health, safety, environmental) practices at the site with the rest of AkzoNobel.
In Ningbo, China, a new alkoxylation unit will be built, bringing the total investment at the multi-site close to the €400 million mark.
As part of the investment decision, AkzoNobel will exit the merchant fatty acid business in Boxing, closing down two out of three fatty acid plants at the site, affecting about 200 employees.
- AkzoNobel, Amsterdam, the Netherlands