AkzoNobel has signaled its strategic intent to accelerate growth by investing close to €90 million in a new facility being built in Brazil. The plant, operated by the company’s Pulp and Paper Chemicals business, Eka Chemicals, will supply the world’s largest pulp mill.
The agreement — with Eldorado Celulose e Papel — emphasizes the importance of high growth markets to AkzoNobel and will help drive the medium-term strategy of doubling revenue in Brazil to €1.5 billion.
The investment is centered on further expanding Eka Chemicals’ sustainability focused Chemical Island concept. It will involve supplying, storing and handling all chemicals for the 1.5 million t/a green field mill, which is being constructed in the northern part of Três Lagoas City. The mill is expected to come on stream in September 2012.
- AkzoNobel, Amsterdam, The Netherlands