Indian paint manufacturer Goodlass Nerolac has reportedly formed a joint venture with Kansai Paint to acquire the paint operations of a Malaysian coatings firm.
According to an online report from Business Standard, Nerolac will hold 55% of the JV, which will acquire the paint business of Sime Coatings Sdn Bhd, a Malaysian firm.
Sime Coatings, part of the NOVA Paint Club, the largest manufacturer of automotive OEM coatings in Malaysia. It also makes paint for automotive plastics, coil coatings, protective coatings, vehicle refinishes, container and general industrial coatings.
Kansai, Nerolac Form JV To Buy Malaysian Firm
By Christine Esposito
Published October 11, 2005
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