Akzo Nobel will be setting up a new powder coating plant in Mumbai with an investment of ₹ 63.5 cr to increase its capacity in the region, said the company.
The Mumbai factory will produce products that are new to the Indian market including bonded metallic powders and localized products for markets such as pipe and re-bar coatings, added the company.
The company did not mention the production capacity of the new plant to be setup.
The company also has a facility in Bangalore which is focused on supplying to the south and east of the country.
Conrad Keijzer, Executive Committee Member Performance Coatings 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.
Simon Parker, Managing Director said, “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.”
The company’s decorative paints business manufactures the “Dulux” brand of products.
AkzoNobel is a leading paints and coatings manufacturing company and a major producer of specialty chemicals and also supply essential ingredients, essential protection and essential color to industries and consumers worldwide.