TAGS: Industrial Coatings
Mitsui, together with Kansai Paint, decides to invest in KANSAI HELIOS Coatings. KANSAI HELIOS is a Europe-based paint and coatings manufacturer. Mitsui & Kansai Paint have a 20% and 80% stake in KANSAI HELIOS respectively.
The investment is aimed at financing Kansai Helios' acquisition of WEILBURGER Coatings and WEILBURGER Asia. WEILBURGER Asia is in Hong Kong. Hereinafter, it will be collectively referred to as WEILBURGER. They engage in the manufacturing and sales of industrial coatings.
Strategic Expansion for Markets Beyond Europe
WEILBURGER is a coatings manufacturer. It has business operations in Germany, Italy, France, Turkey, Brazil, India, China and the US. It has a forecasted consolidated sales turnover of approximately 150 million EUR in the fiscal year 2023. It has built a solid presence in the industrial coatings market. WEILBURGER offers products such as non-stick coatings for cookware and electrical appliances. They also offer heat-resistant coatings and railway coatings.
KANSAI HELIOS supplies a wide range of coatings products for use on railway rolling stock. It also includes agricultural and construction machinery and metal products. KANSAI HELIOS has expanded its business throughout Europe. It includes Austria, Slovenia, Germany and France. The acquisition of WEILBURGER will further strengthen KANSAI HELIOS' presence in Europe. It will also expand its reach into growth markets beyond Europe.
KANSAI HELIOS has implemented its growth strategy and executed several asset and business acquisitions recently through close alignment with Kansai Paint and Mitsui. Mitsui will continue to support the further growth of KANSAI HELIOS.
Mitsui leverages its global business base and networks. Mitsui also leverages its extensive industrial knowledge and specialized regional expertise. This will reinforce Mitsui's profit base in the coatings business.
Source: Mitsui