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.