"India continues to be a high growth market for us and the launch of this new facility will further strengthen our manufacturing footprint in the country, which forms an important part of our organic growth plans,” CEO Thierry Vanlancker said.
"Our Powder Coatings business in India has been delivering strong, profitable growth,” added Daniela Vlad, director of Powder Coatings. “The new facility will play a critical role in our expansion plans and boost our access to markets located in northern and western parts of the country."
The new facility in Thane will complement AkzoNobel's existing plant in Bangalore, adding new product lines in bonded metallic and functional powder coatings.
AkzoNobel is the largest global manufacturer of powder coatings and a world leader in powder coatings technology. The company recently agreed to acquire V.Powdertech Co. Ltd., the leading Thai manufacturer of powder coatings, which supplies a range of products for domestic appliances, furniture and general industrial applications.