AkzoNobel is investing $55 million to expand its industrial coatings manufacturing site in High Point, NC. Announced in April, the extensive upgrade will include installing state-of-the-art production technology, as well as building a new raw materials warehouse, research lab and technical application center.
“This is an historic moment which will help us reinforce our market leadership and further strengthen our commitment to our customers in North America,” said AkzoNobel CEO Thierry Vanlancker.
“This investment clearly signals our intentions,” he added. “We’re looking to accelerate our growth in the region and High Point has a vital role to play as we continue to build and expand market positions across our wood coatings portfolio.”
Scheduled to be completed in 2021, the project will strengthen the company’s position in wood coatings, which serves the furniture, building products and flooring market segment in addition to the company’s Chemcraft distributors. Chemcraft is the company’s specialist wood coatings brand that allows distributors and OEM customers the ability to match any color.
Known as the “Home Furnishings Capital of the World,” High Point has been home to AkzoNobel’s U.S. wood coatings activities since 1955. Covering 37 acres, it produces a wide range of products to serve the furniture, flooring and building products segments, as well as the company’s Chemcraft distributors.
The project is among the area’s largest one-time capital investments in the past five years.
“Global companies that do business in North Carolina time and again choose to expand their footprint here,” said Roy Cooper, Governor of North Carolina. “High Point has long been a manufacturing hub and area workers are ready to ramp up production to support AkzoNobel’s reinvestment plan.”
Want to learn more about North Carolina corporate expansion?
Considering North Carolina for your company’s relocation or expansion project? Check out all the latest news related to North Carolina economic development, corporate relocation, corporate expansion and site selection.