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China Coatings Network
: SERSOL and Japanese company Nihon Chuo Kenkyujo (NCK) signed a memorandum of understanding to explore the establishment of a joint venture to exclusive distribution of Japan's environmentally friendly
coatings
products.
memorandum of understanding was signed by Sersol Coatingy, a wholly-owned subsidiary, and Roton Kimer Capital (RKC), NCK's affiliate in China, for a period of six months.
the memorandum, Sersol Coatingy and RKC will own 51% and 49% of the associated companies, respectively, and will have exclusive rights to manufacture, distribute and sell Adgreencoat.
Adgreencoat has been estimated to be worth $110 million (about 396 million inggit) since its launch in 2006.
the two sides will also explore the development of halal certified products, and look forward to through joint ventures, the export of halal products to Middle Eastern countries, Near East countries and Southeast Asian markets.