New Delhi (Agency): AkzoNobel, a leading global paints and coatings company, has inaugurated the first-of-its-kind Specialty Coatings production facility and colour laboratory in Noida, Uttar Pradesh, a satellite town 25 km from New Delhi, to service its customers in the consumer electronics, automobile and cosmetic industries.
AkzoNobel creates everyday essentials to make people’s lives more liveable and inspiring. With an emphasis on caring for life, it offers sustainable options for the essential protection of coatings. With an investment of € 0.4 million (INR 3 crore), the new site will manufacture 600 kl of coatings annually, thus catering to the localisation drive undertaken by many large companies. Being situated in India, the site will supply AkzoNobel’s coating systems faster to manufacturing companies in the country. Already commissioned, the facility is in its first phase; the second phase is likely to be completed by the end of 2016, with scope for further expansion.
Alberto Slikta, Managing Director, Specialty Coatings, AkzoNobel, said, “India is a key market for our growth strategy and this facility will enable us to further strengthen our position as a leading producer while supporting the supply network. Additionally, this market shows signs of a high demand for consumer durables and electronics. As demand and volumes rise, we will continue to fortify our footprint in high-growth economies such as India and leverage success models of other markets such as Korea, China and Vietnam. We are committed to organic and sustainable growth and are confident that this facility will enable us to serve our customers better.”
AkzoNobel is a leading producer of innovative solutions for the consumer electronics and automotive sectors. According to the Indian Brand Equity Foundation (IBEF), India is expected to become the fifth largest consumer durables market in the world by 2025. The consumer electronics market is expected to increase to US $400 billion by 2020; the Indian automotive sector has the potential to contribute over 12 per cent to India’s Gross Domestic Product. North India is pegged to be the hub of this sector and this facility aims to cater to this growing demand. The size of the beauty, cosmetic and grooming market is growing fast as well and is expected to reach US $20 billion.
AkzoNobel India currently operates six state-of-the-art manufacturing sites and two research centres, along with a network of over 8,800 dealers and distributors.