AkzoNobel has announced it will provide a capital infusion of $55 million to its High Point, North Carolina industrial coatings manufacturing site. The reinvestment aims to transform the site by adding innovative technologies and new infrastructure. The company’s High Point facility currently covers 37 acres and employs more than 250 people. It produces wood coatings to serve the furniture, building products, and flooring market segments.
“Through this reinvestment in our High Point site, we are driving a historic stake into the ground to push forward our wood coatings business in North America and reinforce our leadership and our commitment to customers in this crucial market,” says Thierry Vanlancker, AkzoNobel CEO. “This year, we are marking the 100-year anniversary of our North America wood coatings business, and this $55-million project ensures our market leadership for the next 100 years and beyond. The U.S. is a strategically important market for AkzoNobel, and we are committed to maintaining, building, and expanding our market positions across our portfolio of coatings segments.”