IVY has contributed its coatings business, run by Shanghai IVY Chemical Co. Ltd. to the joint venture, whilst SigmaKalon will contribute its Chinese decorative business, run by its affiliate SigmaKalon Shanghai Co. Ltd.
The SK IVY joint venture is owned 85% by SigmaKalon and 15% by IVY. Olivier Krau ,general manager of SigmaKalon Shanghai Paints Co.Ltd, has been appointed as managing director. Francis Wong, the founder of Shanghai IVY Chemical Co.Ltd, has been appointed as general manager.
IVY was established in 1994 with HongKong capital and today it has 300 employees and a manufacturing facility in Songjiang, Shanghai and sells both solvent and emulsion based coatings , under the well-known IVY brand. The IVY brand is the market leader in wood coatings in the greater Shanghai region with a large market share.
SigmaKalon Shanghai Co. Ltd has a factory in Jiading, Shanghai and sells decorative coatings in the professional façade coatings market under the global brand Seigneurie. SigmaKalon is a leading player in the high-end façade coatings and exterior wall insulation market. SigmaKalon's China decorative paint business has 120 employees.