Construction began on the $100m factory in Yantai Chemical Industrial Park on Monday. The new factory will replace an existing facility in Yantai and have 102,000 tonnes annually once operational in 2021.
“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,” said Michael Mei, group vice president of Hempel in North Asia.
“We’re investing in new and better production facilities to deliver on our ambitious goal of doubling Hempel’s revenue in the next five years to EUR 3 billion.”
Hempel opened its first factory in Yantai in 1992 and has two other facilities in China in Kunshan and Guangzhou.
Copyright © 2020. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.