The hottest Kansai coating company acquired Saudi
2022-08-17- Detail
Kansai coatings acquires Saudi Arabia anticorrosive and architectural coatings factory
recently, Kansai Coatings Co., Ltd. announced that, Kansai Paint Middle East Fzco (hereinafter referred to as "kpme society"), an affiliate of the company in the Middle East, and its subsidiary Kansai Paint Saudi Co., Ltd. (hereinafter referred to as "KPI society") acquired Saudi industrial paint company (hereinafter referred to as "sipco society"), a paint manufacturer in the kingdom of Saudi Arabia
Sipco company, Dammam, Kingdom of Saudi Arabia, was founded in 1982. It is mainly engaged in the manufacture and sales of anti-corrosion coatings and architectural coatings, and provides coating products to large oil companies. The company was jointly funded and established by KP Saudi and kpme, with 95% and 5% investment ratios respectively. In 2015, the sales volume was about 600million yenKansai Paint said that sipco's products are expected to be purchased from government projects and large oil companies in the future. With the acquisition, the company's anticorrosive coating business in Saudi Arabia will be joined at the same time, and its construction coatings and other businesses in that country will also be launched, which will help the rapid expansion and acceleration of the business
it is estimated that sipco's 2019 sales target is about 4.5 billion yen and its operating profit is about 600million yen. After the acquisition, the construction coating business also began to book. In particular, the sales of 4.5 billion yen of automobiles also include architectural coatings
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