06 February 1997 00:00 [Source: ICB]
The go-ahead for Akzo Nobel's $100m amines joint venture with Shanghai Petrochemical is likely to be delayed until the second half of this year, chairman Rudy van der Meer has told ECN.
However, he added that Akzo Nobel remains committed to the project (ECN 30 December 1996). 'We are preparing to develop a leadership position in this area and for this we definitely need a production facility in China,' he said.
Akzo Nobel has already upped its position in amines in Europe with the inauguration of its ammonia terminal at Stenungsund in Sweden which will enable the company to raise ethylene amines capacity from 40 000 tonne/year to 60 000 tonne/year. Akzo Nobel has invested $150m in the Stenungsund site since the two firms merged.
The investments should put Akzo Nobel in a good position to compete in tough European market conditions according to van der Meer. 'Restructuring has become a way of life,' he said. 'However, it goes hand in hand with investment. It is no use shedding fat without building muscle.'
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