Nipsea Group has started construction of its third paint factory in northern Vietnam's Vinh Phuc Province. The six-hectare Nippon Paint Vinh Phuc, which will be in operation in February next year, will produce general industrial paint for automotive and motorcycle industries, marine coatings and resin. The plant will recruit 500 local employees, with a total registered investment capital of $14 million for the next five years.
Nipsea Group, as one of Asia's largest paints and coatings group, adheres to the "Focus" philosophy for managing each market. The philosophy refers to various parts. First, focus on the painting and coatings; second, autonomy to the regional market operation, which means that in each region the local management team is "focused" on the need of its own local market, expanding regional production capacity and adapting strategies to fulfill market expectations.
Nipsea has more than 47 manufacturing facilities and operations spanning 14 countries and regions, including Bangladesh, the Chinese mainland, Hong Kong, India, Indonesia, Korea, Malaysia, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam. Annual production of green paint has hit nearly 1.5 million tons. This year, in addition to construction of Nippon Paint Vietnam's third plant, Nippon Paint Philippines has signed an agreement with Mitsubishi Motors to supply Autoshield products exclusively for Misubishi Motors, and has introduced a new local aerosol brand Pylox and Lazer into Pylox Lazer, Nippon Paint Hong Kong has also made market share gains in the first quarter, increasing 150 percent compared with the same period in 2012.