Hempel began the construction of a new factory in Yantai Chemical Industrial Park to strengthen its presence in China.
Hempel began the construction of a new factory in Yantai Chemical Industrial Park, China to help meet increasing demand for more sustainable and innovative coating solutions in the region and to strengthen its presence in China, where the company already has two factories in Guangzhou and Kunshan.
Hempel's new Chinese factory will replace its existing production facility in Yantai, which was opened in 1992, and will be inaugurated in 2021. The company invested USD 100 million for a building of 18,000 m2, which will have a production capacity of more than 100,000 tons per year. The factory will produce waterborne, solvent-based and powder coatings.
"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. The Chinese market is a very important part of Hempel's business and our ongoing investment demonstrates our confidence in the region. 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 EUR 3 billion", says Michael Mei, Group Vice President of Hempel in North Asia.