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SigmaKalon and Shanghai IVY Chemical Co., Ltd. join forces to create JV in the Chinese decorative coatings market

Published on 2007-05-11. Author : SpecialChem

SigmaKalon and Shanghai IVY ("IVY") formed a joint venture which will sell decorative coatings i n the Chinese market. The joint venture company will be called SigmaKalon IVY ( Shanghai) Paints Co.Ltd ("SK IVY").

IVY has contributed its coatings business, run by Shanghai IVY Chemical Co. Ltd. to the joint venture, whilst SigmaKalon will contribute its Chinese Decorative business, run by its affiliate SigmaKalon Shanghai Co. Ltd.

The SK IVY joint venture is owned 85% by SigmaKalon and 15% by IVY . Mr Olivier Krau , current General Manager of SigmaKalon Shanghai Paints Co.Ltd, has been appointed as Managing Director. Mr Francis Wong, the founder of Shanghai IVY Chemical Co.Ltd, has been appointed as General Manager.

IVY was established in 1994 with HongKong capital and today it has 300 employees and a manufacturing facility in Songjiang, Shanghai and sells both solvent and emulsion based coatings , under the well-known IVY brand . The IVY brand is the market leader in wood coatings in the greater Shanghai region with a large market share.

SigmaKalon Shanghai Co. Ltd has a factory in Jiading, Shanghai and sells decorative coatings in the professional façade coatings market under the global brand Seigneurie. SigmaKalon is a leading player in the high-end façade coatings and exterior wall insulation market. SigmaKalon's China decorative paint business has 120 employees.

SK IVY will capitalize on the international experience of SigmaKalon and the local market expertise of IVY to grow in the China decorative coatings market. Both parties will leverage their compl e mentary strengths to enable SK IVY to succeed across the retail, façade and exterior insulation markets.

SigmaKalon, a worldwide player in decorative, marine, protective and industrial coatings, employs around 10,000 people in 40 countries, with a focus on Europe, Asia and Africa. In 2006, SigmaKalon recorded sales of more than 1.9 billion E uros. SigmaKalon owns a large number of famous brands, of which many enjoy a long history of more than 100 years. SigmaKalon is also present in the Chinese marine and protective coatings market. The company sells to a wide range of Chinese shipbuilding yards and ship owners and is active in the offshore, power, petrochemical and oil & gas market.

Ken Partington, Board Member of SigmaKalon Group with responsibility for Decorative Coatings in Asia said "I am delighted that SigmaKalon and IVY have joined forces in China, one of the most exciting markets in which we operate. We look forward to delivering significant growth together in the years ahead."

Mr Francis Wong, the founder of IVY said "The joint venture will combine both parties' brands, technologies, network and expertise, to bring a variety of high quality products and to provide superior services to Chinese consumers."

Source: SigmaKalon


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