TAGS: Environmentally Friendly Coatings Powder Coatings
Hempel has started construction of a new factory in Yantai Chemical Industrial Park, China. The new factory will help meet increasing demand for more sustainable and innovative coating solutions in the region. This investment will double Hempel’s revenue in the next five years to EUR 3 billion.
Facts about New Factory in Yantai Chemical Industrial Park, China
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Investment: USD 100 million
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Size of buildings: 18,000 m2 (size of land: 52,000 m2)
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Production capacity: 102,000 tons/year
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Coating types: waterborne, solvent-based and powder coatings
Strategically located in the Yantai Chemical Industrial Park, Hempel’s new Chinese factory will replace its existing production facility in Yantai. It will have a production capacity of more than 100,000 tons per year and will be inaugurated in 2021.
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With our new factory in Yantai, we’re sharpening our focus on delivering innovative and more sustainable coating solutions to our customers in the region. The Chinese market is a very important part of Hempel’s business and our ongoing investment demonstrates our confidence in the region,” says Michael Mei, group vice president of Hempel in North Asia.
Hempel opened its first factory in Yantai in 1992 and has since become an established part of the local community. The company has two other factories in China, in Kunshan and Guangzhou.
Source: Hempel