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.