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AkzoNobel Performance Coatings has announced plans to invest €2.5M to expand its plant in Cikarang, Indonesia.
The investment will add capacity to help meet growing demand for the company’s International brand products, which are supplied by the Protective Coatings and Marine Coatings businesses. The project is expected to be completed this month (April).
"The local market has been expanding over the past three years,” explained Mauricio Bannwart, MD of AkzoNobel’s Protective Coatings business. "Further growth is now anticipated as Indonesia seeks to improve its position in the petrochemical and power sectors, while an improvement in marine new build is also anticipated.”
The company recently invested €5M to add capacity to its Marine and Protective Coatings businesses in Singapore and Sunshine, Australia. Conrad Keijzer, Executive Committee member responsible for Performance Coatings, commented: "Our business in Asia has experienced double-digit annual growth during the past five years. These expansions will ensure that we are well positioned to meet customer demand going forward."
