AMSTERDAM, The Netherlands - AkzoNobel announced plans to invest more than EUR 60 million in boosting production capacity for its Bermocoll cellulose derivatives (paint and building material thickeners), providing additional momentum for the company’s accelerated growth strategy that includes doubling revenue in China to $3 billion by 2015.

As well as constructing a new facility at its Ningbo multi-site in China, the company will also debottleneck the existing manufacturing site in Örnsköldsvik, Sweden. The two projects will increase capacity to close to 40,000 tons per annum and elevate AkzoNobel to a global leadership position.

The debottlenecking project in Sweden is due to be completed by the end of this year. The majority of the investment, however, has been earmarked for the new plant in Ningbo, where the company’s Functional Chemicals business already operates facilities for chelates, ethylene amines and ethylene oxide. An organic peroxides facility is also due to come on stream in 2011. The new Bermocoll unit should be on stream in early 2013, and the funding allocated for this facility will bring the total investment in Ningbo to more than EUR 320 million.