Global Coatings Network News:
Global Coatings Network News:
Japan's Kansai Paint (product library purchase and supply) Co.
announced on May 25 that it has reached an agreement with Polisan Holdings, which is listed on the Turkish Stock Exchange, to acquire up to 50% of the shares of Polisan Boya Sanayi ve Ticaret AS, a paint manufacturer under the latter.
The purchase price is approximately 8.
9 times the company's EBITDA profit.
In recent years, the globalization of Kansai Paint has been accelerating, and its business has involved Asia, Europe and North America.
In the southern African market, the company invested in the acquisition of South Africa Freeworld Paint Company in 2011.
In February 2016, the company announced that it would invest in a new automotive coating production base in the suburbs of Tangier, Morocco.
Kansai Paint Middle East, headquartered in Dubai, UAE, will be responsible for its business areas covering the Middle East and North Africa markets.
As Turkey spanning Eurasia, Kansai Paint believes that its paint market has significant growth expectations, which will help the company's global development strategy.
Previously, Kansai Paint has established Kansai Altan Boya Sanayi A.
(Kansai Paint holds 51% of the shares) in Turkey through a joint venture with the local Altan family to develop automotive coatings and industrial coatings businesses in the local area, and build factories The coating production capacity reaches 80,000 tons/year, in addition to the 15,000 tons/year polymer production capacity.
This acquisition is intended to further expand its business in the Turkish architectural coatings market.
Polisan Holding Company was established in 1964.
Its business areas mainly involve coatings, chemicals, ports and terminals, etc.
, and have entered the fields of real estate and agriculture.
In 2004, the company established a joint venture with Rohm and Haas, one of the world's leading specialty chemical products companies.
After Dow Chemical acquired Rohm and Haas, the current joint venture was changed to Dow Chemical.
In 2015, Polisan achieved sales revenue of 9.
06 billion Turkish liras and EBITDA profit of 1.
283 billion Turkish liras.
Polisan Boya was founded in 1985 and is currently the third largest paint manufacturer in Turkey, especially in the field of decorative coatings.
Its products include architectural coatings (interior and exterior wall decorative coatings, glues, paints (purchase and supply from the product library)) In addition, the company also enters the furniture (purchase and supply of product library) coatings and marine coatings fields.
After the announcement of the cooperation with Kansai Paint, the share price of Polisan Holdings rose 8.
Kansai Paint Co.
was founded in May 1918.
It is currently the world’s top ten paint manufacturer with a turnover of 349.
33 billion yen in fiscal year 2014.
Previously, the company’s business was mainly located in Asia, Europe and North America, and in southern Africa.
In the market, in 2011, the company invested in the acquisition of South African Freeworld Coatings Company.
This time, the investment and construction of factories in the North African market means that the company's global strategic layout has taken another important step.
In the future, the Turkish market is expected to grow significantly, which is believed to help the group's regional business expansion.
(Source: Global Coatings Network) (For more information, please log in: Global Coatings Network http:// )