SigmaKalon and Shanghai IVY have formed a joint venture which will sell decorative coatings in the Chinese market. The joint venture company will be called SigmaKalon IVY (Shanghai) Paints Co.Ltd (SK IVY).
IVY has contributed its coatings business, run by Shanghai IVY Chemical Co. Ltd, to the joint venture, while 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 sells both solvent- and emulsion-based coatings, under the IVY brand. The IVY brand is the market leader in wood coatings in the greater Shanghai region with a large market shar