AkzoNobel announced that its business in China would double in five years. Weisihan, CEO of AkzoNobel, the world's largest paint and coating enterprise, announced in Ningbo on November 8 that the Ningbo diversified production base with a total investment of 275 million euros was opened. The project took four years to build, which means that AkzoNobel has become the only chelate manufacturer in Europe, North America and Asia
it is understood that the vinyl amine and ethylene oxide production plants in Ningbo diversified base will be put into operation at the end of 2010, and an organic peroxide production plant is under construction, which is planned to be put into operation in the second half of 2011
China's business will double in five years
Wei Sihan told China Securities News: "AkzoNobel has more than 25 production plants in China, including a new plant recently put into operation in Wuhan. Moreover, 11% of our global R & D capacity has been transferred to China."
previously, Wei Sihan announced at the Shanghai WorldExpo that the company's revenue in China will double by 2015. The American aluminum company has successfully developed T77 status equipment, which is some necessary testing equipment for production companies, construction units, product quality supervision and inspection institutes and building materials product testing, amounting to $3billion. The opening of Ningbo's diversified production base adds another strong impetus to AkzoNobel's determination to forge ahead in the Chinese market. By the end of 2009, AkzoNobel's business income in China had reached US $1.5 billion
on October 26, AkzoNobel's sixth powder coating plant in China has been opened, further advancing the company's ambition to double its revenue in China within five years. The new plant is located in Wuhan Economic and Technological Development Zone, and its current capacity is 4000 tons per year, which can be further improved
weisihan also pointed out that there are also problems in the Chinese market, such as market overheating and rising prices of raw materials, but the biggest risk we face is to retain local talents to manage our business in China
50% revenue locks in the high growth market
AkzoNobel's ambitious global plan is far more than strong investment and expansion in China. The company's executives are conveying a very strong message to the media: AkzoNobel is in a critical period of accelerated growth and sustainable development
Wei Sihan said on the 8th that AkzoNobel's management positioned year as a period of product portfolio transformation, 200 plus a small amount of watch oil year as a period of integration and restructuring, and year will be a period of acceleration and sustainable development. Weisihan: "AkzoNobel is entering a new period of accelerated growth and sustainable development after successfully transforming its business portfolio and completing the integration and reorganization work.
weisihan said that as of 2009, the company's operating revenue was € 13.9 billion, which was more convenient for grooving and embossing to measure the local wear of the friction surface. AkzoNobel's latest business rapid development goals include: sales revenue increased to € 20billion; EBITDA Maintain a level of 13 to 15% per year; Continue to strive to reduce the level of working capital and achieve the goal of reducing the working capital to income ratio by 0.5% every year until finally reaching 12%
he said that at present, high growth markets including China, India and Brazil provide nearly 40% of AkzoNobel's revenue. The company plans to increase the revenue from high growth markets to 50% within 10 years. The specific goals are as follows: the sales revenue in China will double, from $1.5 billion to $3billion, and the sales revenue in India will increase from € 250million to € 1billion, The sales revenue in Brazil will increase from 750million euros to 1.5 billion euros
weisihan once again emphasized the medium-term strategic objectives of AkzoNobel: first, the company is in a leading position in all business areas, the geographical distribution of business is excellent, and the revenue from the high growth market is nearly 40%; Second, focus on endogenous growth, especially in high growth markets; Third, at present, the company's R & D investment accounts for about 2.5% of its revenue. In absolute value, AkzoNobel's R & D investment is in a leading position in the relevant industry; Fourth, the company has the strength to consider highly attractive acquisition projects
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