Press Archive 2006
ICI is investing US$14 million in a new waterborne decorative paints plant in Vietnam. The facility is being constructed at My Phuoc II Industrial Park in Binh Duong Province near Ho Chi Minh City and is scheduled to be operational next year.
4 April 2006
It is ICI's second paints manufacturing plant in Vietnam. ICI Paints has been operating in the country since 1996 through a joint venture, ICI Paints (Vietnam) Ltd, in Ho Chi Minh City. The new facility, wholly owned by ICI through a new company, ICI Vietnam Limited, will use a variety of best-in-class technologies from around the world. ICI Paints currently has 13 manufacturing facilities in Asia and this is the first of a number of new investments planned by the company for the region.
Chew Gaik Hean, Chief Executive of ICI Paints in Asia, said: "Vietnam is one of our fastest growing markets, driven by strong economic growth, rapid urbanisation and a favourable investment environment. This new investment underlines our confidence in the country and is in line with ICI's announced 'grow aggressively' strategy for Asia for 2003-2007, and builds on our success in Vietnam over the past decade."
