Global coatings manufacturer Hempel (Lyngby, Denmark) recently began construction of a new factory at China’s Yantai Chemical Industrial Park. The new factory is designed to help the company meet increasing demand for more sustainable and innovative coating solutions in the region.
Strategically located in the 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 for waterborne, solvent-based, and powder coatings, and it will be inaugurated 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,” says Michael Mei, group vice president in North Asia. “The Chinese market is a very important part of Hempel’s business, and our ongoing investment demonstrates our confidence in the region.”
The coatings manufacturer’s $100-million investment in the Yantai factory includes the construction of multiple buildings at 18,000 m2 in size.
“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 €3 billion,” Mei says.
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, www.hempel.com.