Recently, Nippon Paint Holdings (hereinafter referred to as "Nippon Paint") issued an announcement stating that due to the inability to obtain approval from foreign regulatory agencies before January 1, 2021, it is expected to be scheduled for January 2021. The deadline for completing the transaction with Singapore’s Wuthelam Group on the 1st will be postponed to January 2021. The specific date has not been determined. And said that the delay will not affect the company's performance for the fiscal year ended December 31, 2020.
The delay of this acquisition does not affect the determination of Nitu Holdings to win the Asian market. Asia is the main battlefield of Nippon, and China is the most populous country in the world. It is the core of the core. Consolidating the Asian market, especially seizing the Chinese market, and grasping the strategic fortress will help Nico Holdings consolidate its position in the world coatings rankings. It is more conducive to progress and development.
Data show: Nippon Paint is a world-renowned paint manufacturer. It was established in 1881 and has a history of more than 100 years. It is one of the earliest paint companies in the world. Established in 1962, Lishi Group is responsible for managing all business activities of Nippon Paint in Southeast Asia. Its business development covers 12 countries and regions, and has established more than 20 manufacturing plants with more than 6,000 employees. Nippon Paint, which entered China in 1992, has been ranked among the best in Chinese paint manufacturers in recent years and is a leader in the domestic paint industry. Nippon has always been its mission to beautify and protect people's lives, and continue to create superior quality products. For more than 10 years, Nippon's footprint has spread all over the country. Nippon has established its own offices throughout the country, and Nippon's service centers in various places are like a link, connecting consumers, painters, Nippon Corporation, and thousands of families together. China C9 Hydrocarbon Petroleum Resin is one of the important raw materials for the production of coatings. As the largest coating manufacturer in the Asia-Pacific region, Nippon Paint has a wide range of business covering a variety of fields. Among them, architectural coatings, automotive coatings, general industrial coatings, coil coatings, powder coatings, etc. are among the best in the industry. Guangzhou Honda, Tianjin Toyota, key Olympic venues, the new CCTV site, etc., their surfaces are all shining under the protection of Nippon Paint.