RPM’s Carboline Company subsidiary acquired Full Interest in Chinese Joint Venture

usa: Carboline Dalian ‘s subsidiary, a manufacturer of corrosion control linings and coatings for power, oil and gas and petrochemical related projects, has completed its 100% ownership in its Chinese joint venture. In 2009, Carboline Dalian Paint Production Co., Ltd, based in China, acquired 49% interest in UniChemical Company, which has remained long-standing partner in the joint venture of Carboline. The company being headquartered in Dalian, China also operates in Shanghai, Tianjin, Guangzhou and Hong Kong. China poses great opportunities for growth and development, but at the same time is an extremely dynamic business sector and hence the company has entered in china with a local joint venture partner to flourish its sales and operations.

TechSci Research depicts that acquiring the full ownership of the manufacturing business would help the growth of Carboline company in the country. This would enable the company to serve as a platform for other subsidiaries of RPM in order to increase and spread their business throughout China.

According to TechSci Research report “GCC Construction Chemicals Market By Type, By End User, Competition Forecast and Opportunities, 2011 – 2021 – Saudi Arabia, UAE, Qatar, Kuwait, Oman & Bahrain”, the construction chemicals market in the GCC countries is projected to grow at a CAGR of over 7% during 2016 - 2021, due to rising government spending on construction projects coupled with increasing participation by private players in the real estate sector. Additionally, growing demand for modern residential complexes and commercial structures is expected to drive demand for construction chemicals in the GCC countries through 2021. Further, increasing need for economic diversification and reducing dependence on oil reserves is prompting majority of the countries in the region to increase expenditure on construction and infrastructure activities.