The new production line in Dong Nai will be ready in November and will be supported by a 20 percent increase in workforce. In addition to serving the local market, the expanded plant will also supply customers across Southeast Asia, India, Australia and New Zealand.
"Vietnam has proven to be strategic market for AkzoNobel in Southeast Asia and we are strongly committed to expanding our position," said Alan Alex, Business Manager for AkzoNobel's Powder Coatings business in Southern Asia. "With focused investment, we aim to sustain our high double-digit growth in the domestic market in Vietnam, as well as Southern Asia overall."
Commenting on the investment, Conrad Keijzer, AkzoNobel's Executive Committee member responsible for Performance Coatings, added: "Vietnam is strongly emerging as a manufacturing base in Asia, which continues to be an attractive growth market. These investments ensure that we are well positioned to meet customer demand going forward."
AkzoNobel is the largest paints and coatings company in Vietnam, with four manufacturing locations producing both decorative paints and performance coatings, and employing more than 800 people.