AkzoNobel to Invest EUR10 Million at Sweden Plant
November 24 2017 - 5:14AM
Dow Jones News
By Maryam Cockar
AkzoNobel NV (AKZA.AE) on Friday said that it will invest 10
million euros ($11.9 million) at its Kvarntorp plant in Sweden in
order to expand production capacity for chelated micronutrients,
which are essential minerals used in the agricultural market.
The investment will help the Dutch chemicals company meet
growing demand for micronutrients, particularly in regions with
poor soil conditions, it said.
The primary aim of the investment is to add capacity for
high-performance iron chelates that will help deliver metals to the
plant, a development that AkzoNobel said is on track to be
completed in late 2018.
Shares were down 33 euro cents, or 0.4%, to 77.96 euros.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
November 24, 2017 04:59 ET (09:59 GMT)
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