Nearly 1.2 billion investment! The paint project with an annual output of 200,000 tons was approved

Global Coatings Network News: Recently, the Development and Reform Commission of Jiangsu Province issued a review opinion on the energy saving report of the project with an annual output of 180,000 tons of high-performance coatings and 20,000 tons of waterborne coatings invested by Haihong Old Man Paint (Zhangjiagang) Co.
, Ltd.
, and agreed in principle to the energy saving report
of the project.

In September 2020, Haihong was optimistic about the superior functional policy advantages and significant industrial agglomeration effect of Zhangjiagang Free Trade Zone, and invested 170 million US dollars (about 1.
184 billion yuan) to build a new high-performance coating project with an annual output of 200,000 tons in Zhangjiagang Yangtze River International Chemical Industrial Park, including 32 individual buildings such as raw material area, production workshop and finished product area, which will become the largest production base
of Hempel in China.

The project covers an area of 136,000 square meters, with an annual production capacity of 200,000 tons (including 105,000 tons of high-performance marine coatings, 75,000 tons of high-performance industrial coatings and 20,000 tons of water-based coatings), and can achieve an annual operating income of 2.
5 billion yuan after reaching production, mainly producing high solids coatings, solvent-free coatings, water-based paints, antifouling paints, etc
.

At the same time, Haihong also built a new R&D center
in Zhangjiagang.
It is reported that Hempel has 15 R&D centers around the world, and the new R&D center in Zhangjiagang will replace the existing Kunshan R&D center and become a hub for the development of sustainable coating solutions, enabling Hempel to tailor more effective solutions
to local customer needs.