Dutch firm AkzoNobel to set up powder coatings plant in Mumbai

Mumbai: AkzoNobel, the Dutch multinational company that is active in the fields of decorative paints, performance coatings and specialty chemicals, will set up a powder coatings plant in Mumbai with an investment of Euro 9 million (about Rs 67 crores). The plant, a ground-breaking ceremony for which was today, will allow the company to increase capacity in the region, which forms an important part of its organic growth plans.

Speaking at the ground breaking ceremony, Conrad Keijzer, executive committee member responsible for performance coatings, AkzoNobel, said, “As the largest powder coatings company in the world, we regard India as being one of our of most important strategic markets. Establishing the new facility in one of the world's fastest growing economics will give us additional momentum for our ambitious growth plans in the country.”  

The new facility will complement AkzoNobel’s existing plant in Bangalore, which is focused on supplying the south and east of the country. The Mumbai factory will also produce several lines new to the Indian market, including bonded metallic powders and localised products for markets such as pipe and re-bar coatings.

Simon Parker, managing director of AkzoNobel's powder coatings business, added, “Demand for powder coatings has been growing at double-digit rates in India and this facility will position us well to capture that growth. We will also be adding new product lines, which will bring us closer to our customers in the north and west of India.”

AkzoNobel, which owns Dulux paints, expects to start the new Mumbai facility by late 2017.

AkzoNobel, which manufactures and markets a wide range of coatings and specialty chemicals, has six manufacturing facilities in India at Bangalore, Hyderabad, Mohali, Thane, Raigad and Gwalior. In addition to decorative paints, the company manufactures a range of industrial coatings such as powder coatings, coil coatings, protective coatings, wood coatings, etc.

In the last few years, the Dutch firm has been expanding its presence in the country with a series of expansion and tie-ups. Recently, AkzoNobel joined hands with Atul, a Lalbhai Group company, for setting up a manufacturing joint venture (JV) for production of monochloro acetic acid (MCA), a key raw material for crop protection and other chemicals. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.