Joint Ventures Established by Hobertz Coating
Year:1998 ISSUE:16
COLUMN:OTHER
Click:194    DateTime:Jan.04,2006
 
            Joint Ventures Established by Hobertz Coating
Hobertz Coating of Hoechst Group has recently ac-quired through Hoechst
China Investment Co., Ltd. 51% ownership of Akzo-Red  Lion  Automobile
Coating Co., Ltd. which has been in operation in China since 1992. The
original two shareholders Akzo Coating and Beijing  Red  Lion  Coating
will hold 25% and 24% ownership in the new company.
The new company will still be run by the Chinese management  to  ensure
the continuity of its brisk business. The turnover of the  company  is
expected to reach 20 million marks in 1998.
Hobertz Coating will bring to the new company the  latest  technologies
of electrophoretic dipping and backing coatings  and  lacquer  varnish
coatings. Akzo Coating will continue to contribute its know-how to the
new company. The production will be undertaken  by  Beijing  Red  Lion
Coating.
Hobertz Coating will rely on  its  leading  position  in  the  European
market and actively implement its global  strategy  through  this  new
joint venture enterprise. It already has 4 joint  venture  enterprises
in China. Besides its automobile coating division, the vehicle renewal
division has also established cooperation  relationship  with  Dongwan
Advanced Coating Co. and the powder coating division has  set  up  two
joint ventures of Hobertz-Huajia and Hobertz-Langfang.