AkzoNobel inaugurates a new €6.5 million technology center in Songjiang, Shanghai. AkzoNobel’s largest research facility in China, it will support product innovation and the development of next-generation paints, coatings and specialty chemicals, according to the company.
The center is equipped with an array of material analysis and performance testing facilities and employs 150 scientists, which is expected to rise to 200 by 2020, according to the company. The majority of the products supported by the new facility will be waterborne and powder-based, reportedly in line with the company's plans to develop more eco-premium products.
AkzoNobel invested a total of €347 million in research and development during 2015 with a strong focus on sustainability, according to the company. The company is reportedly looking to increase its revenue from downstream eco-premium products to 20% of revenue by 2020. AkzoNobel reports that it has already reached 30%.
AkzoNobel reportedly employs more than 7,500 people in China (including 500 in RD&I), while revenue in China totaled €1.8 billion in 2015. The company says it operates more than 30 production sites across the country, with RD&I resources allocated to 26 of them to support local customers.
For more information, visit: www.akzonobel.com