Nippon Capital acquires B&K, a German automotive coating manufacturer

Nippon Paint (Nippon Paint) announced that it has completed the acquisition of another 49% of the German automotive paint manufacturer Bollig&Kemper GmbH&Co.
KG (B&K), thus realizing 100% holdings in the company.
The latter has become Nippon Paint.
Owned subsidiary
.
B&K has production plants in Cologne, Germany and Fleury, France.
Nippon expects to further expand the business space of European automakers such as Volkswagen in Germany and Peugeot Citroen in France through this acquisition
.


In July 2008, Nippon Paint started business cooperation with B&K for the first time.
The two parties established an automotive coating sales joint venture under Nippon Group—Kyber Nippon Automotive Coatings (Shanghai) Co.
, Ltd.
in Shanghai, China.
The position in the Asian market, as well as B&K's influence and technical strength in the European market as a famous German automotive coating manufacturer, will jointly develop the European automotive coatings market in China
.


In order to consolidate and develop the automotive coating business in the global market, in October 2013, Nippon Paint acquired 39% of the shares of B&K through its subsidiary Nippon Paint (Europe) Co.
, Ltd.
The two parties decided to invest in R&D, production and sales.
And other fields have formed strong complements to each other, and accelerated the business expansion of providing automotive coatings to European automakers in Europe and China, and at the same time is committed to expanding business foundations globally in the future
.


In April 2015, Nippon Paint announced the acquisition of another 12% stake in B&K, thereby completing the holding of 51% stake in the company
.