Citing geographic changes in the marine industry over the last decade and a desire to expand their individual marine coatings operations, Nippon Paint Co., Ltd. and International Coatings Ltd. will terminate their association in marine coatings.
The two firms will end their partnership at the end of October 2004.
Nippon Paint and International have licensed their marine coating technologies to each other and have co-operated in the provision of support and services to customers. The companies will continue to serve customers under their existing arrangements until the end of October 2004.
Nippon Paint plans to use its own overseas infrastructure to serve Japanese and overseas customers and owners building and maintaining vessels throughout the world. International plans to extend its global network by developing its infrastructure in Japan to serve Japanese and overseas customers and owners building and maintaining vessels in Japan.