Nippon Paint, Bollig & Kemper in China sales tie-up

28 August 2008 12:21  [Source: ICIS news]

TOKYO (ICIS news)--Nippon Paint China has signed a joint-venture agreement with Germany’s Bollig & Kemper to establish a Shanghai-based firm to promote the sale of automotive coatings, Japanese parent company Nippon Paint said on Thursday.

 

The new company, named BK & NP Automotive Coatings (Shanghai) Co, was scheduled to begin operations in October, it added.

 

The company aimed to generate net sales of CNY90m ($13.2m) by 2010, Nippon Paint said.

 

Nippon Paint China will have a 60% stake in the venture.

 

($1 = CNY6.84)

 

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By: Tomomi Yokomura
+65 6780 4359

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