AkzoNobel to Invest €45 Million in Ningbo Plant
AkzoNobel said it will invest €45 million in a new dicumyl peroxide (DCP) plant at its Ningbo multi-site in China to meet a growing local, regional and global demand. Widely used as cross-linking agent for various polymers and copolymers, DCP can be found in a variety of products like shoe soles, cable insulation, and construction insulation.
The new facility will expand AkzoNobel Functional Chemicals' DCP production capacity by more than 30% to 25,000 metric tons and allow for future expansion as the market continues grow. Expected to be completed by mid-2014, it will be the fifth plant built on the multi-site and benefit from the shared infrastructure and state-of-the-art facilities.
The announcement coincides with the inauguration of one of AkzoNobel's other Ningbo plants, which also manufactures organic peroxides: Perkadox 14 (used for different types of rubber and thermoplastics) and Trigonox 101 (used for rheology control of polypropylene and synthetic rubbers).
The Ningbo site currently produces chelates, ethylene amines and ethylene oxide, in addition to the aforementioned projects. The total investment in the AkzoNobel's Ningbo site announced to date is nearly €370 million.
