Industry News

Vietnam: ICI invests in second paints manufacturing plant

Published on 2006-04-05. Author : SpecialChem

ICI is investing US$14 million in a new waterborne decorative paints plant in Vietnam. The facility is being constructed at My Phuoc II Industrial Park in Binh Duong Province near Ho Chi Minh City and is scheduled to be operational next year.

It is ICI's second paints manufacturing plant in Vietnam. ICI Paints has been operating in the country since 1996 through a joint venture, ICI Paints (Vietnam) Ltd, in Ho Chi Minh City.

The new facility, wholly owned by ICI through a new company, ICI Vietnam Limited, will use a variety of best-in-class technologies from around the world. ICI Paints currently has 13 manufacturing facilities in Asia and this is the first of a number of new investments planned by the company for the region.

Chew Gaik Hean, Chief Executive of ICI Paints in Asia, said: "Vietnam is one of our fastest growing markets, driven by strong economic growth, rapid urbanisation and a favourable investment environment. This new investment underlines our confidence in the country and is in line with ICI's announced 'grow aggressively' strategy for Asia for 2003-2007, and builds on our success in Vietnam over the past decade."

ICI Paints is the leader in the decorative paints market in Vietnam, where it employs more than 200 people and operates through five sales offices and four distribution centres. A further 40 employees will be recruited for the new plant, which will produce the current 'Dulux', 'Glidden', and 'Maxilite' brands.

ICI is one of the world's major specialty products and paints businesses. The Group's four principal businesses are National Starch, Quest, Uniqema and ICI Paints, which together account for more than 90% of ICI's sales. Today around a quarter of ICI's sales are made in Asia Pacific and 40% in the Americas with less than 12% now made in the UK.

ICI products today include flavours and starches for the food industry, fragrances, surfactants and specialty polymers for personal care products, adhesives for the electronics and packaging markets as well as a wide range of decorative coatings and specialty products for domestic use and the construction industry. Listed on both the London and New York Stock Exchanges, ICI is a member of the FTSE100, FTSE4Good and the Dow Jones Sustainability Index. ICI has approximately 32,000 employees worldwide and had sales in 2005 of 5.8 billion GBP. 5.8 billion GBP.

Source: ICI

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