This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

AkzoNobel Opens New Coatings Plant In India

AMSTERDAM, Netherlands, Oct. 28, 2013 (GLOBE NEWSWIRE) --

AkzoNobel has strengthened its manufacturing footprint in India by opening a new
€20 million decorative paints plant in Gwalior, which will have an annual
capacity of 55 million liters.



The eco-efficient Greenfield facility - AkzoNobel's sixth factory in India -
will supply a range of decorative paints and create improved distribution
channels for the popular Dulux brand. The new site will also help speed up
transportation times and reduce the cost of logistics.



Speaking at today's official inauguration, AkzoNobel CEO Ton Büchner said:
"India plays an extremely important role in our growth strategy and the new
Gwalior site underlines our commitment to creating a leading coatings powerhouse
in India.



"As a global leader in sustainability, I'm also pleased that the plant has
focused so heavily on energy, water and resource conservation, which will be
vital in helping us to create more value from fewer resources."



Added Amit Jain, Managing Director of AkzoNobel India: "The Gwalior plant will
provide cost-effective access to key markets in the northern and central areas
of India. This will greatly reinforce our strategy of expanding Dulux
distribution, as well as improving customer service in these high growth
regions."



The factory has been built on 9,000m(2 )of land, with a greenbelt area of
9,000m(2), while sufficient infrastructure is in place to support future
expansion plans. Provision has also been made to accommodate key suppliers,
allowing for a smoother manufacturing process.



Special sustainability features include rainwater harvesting and energy
efficient pumping systems, while 20 percent of the roofing area allows natural
daylight to flood in, reducing the need for artificial lighting.



AkzoNobel currently employs around 1,800 people in India.
- - -



AkzoNobel is a leading global paints and coatings company and a major producer
of specialty chemicals. We supply industries and consumers worldwide with
innovative products and are passionate about developing sustainable answers for
our customers. Our portfolio includes well-known brands such as Dulux, Sikkens,
International and Eka. Headquartered in Amsterdam, the Netherlands, we are
consistently ranked as one of the leaders in the area of sustainability. With
operations in more than 80 countries, our 50,000 people around the world are
committed to delivering leading products and technologies to meet the growing
demands of our fast-changing world.



Not for publication - for more information
Corporate Media Relations, tel. +31 20 502 7833    Corporate Investor Relations,
tel. +31 20 502 7854
Contact: Marc Michelsen                                     Contacts: Jonathan
Atack, Sheryl Stokes

Safe Harbor Statement
This press release contains statements which address such key issues as
AkzoNobel's growth strategy, future financial results, market positions, product
development, products in the pipeline, and product approvals. Such statements
should be carefully considered, and it should be understood that many factors
could cause forecasted and actual results to differ from these statements. These
factors include, but are not limited to, price fluctuations, currency
fluctuations, developments in raw material and personnel costs, pensions,
physical and environmental risks, legal issues, and legislative, fiscal, and
other regulatory measures. Stated competitive positions are based on management
estimates supported by information provided by specialized external agencies.
For a more comprehensive discussion of the risk factors affecting our business
please see our latest Annual Report, a copy of which can be found on the
company's corporate website www.akzonobel.com.

AkzoNobel Press Release: http://hugin.info/130660/R/1738068/583148.pdf

[HUG#1738068]

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs