Dutch multinational AkzoNobel this week announced plans to build a new coatings plant in Thailand at a cost of some $33 million.
The nearly 1.3 million-square-foot facility, located in the province of Chonburi, will begin production in the third quarter of 2016 and will support an initial annual capacity of 45,000 tons.
The plant will incorporate several businesses in AkzoNobel's Performance Coatings operation, including metal, protective, specialty and marine coatings. The site will also manufacture selected products for the decorative paints business.
The company manufactures specialty chemicals in addition to coatings and paints.
Officials said the announcement would consolidate several existing operations into one site and strengthen AkzoNobel's position both in Thailand and throughout Southeast Asia.
"As demand and volumes continue to rise, the new site will enable us to better serve our customers whenever and wherever they need our products," said executive committee member Conrad Keijzer.