Feb 9 2004
DuPont has reinforced its position in the Chinese automotive coatings market by increasing its stake in two of its joint ventures that supply automotive coatings.
DuPont purchased the remaining 40% stake in its DuPont Red Lion joint venture in Changchun, from partner Red Lion. The joint venture formed in 1995 will become known as DuPont Performance Coatings – Changchun.
They have also increased their stake in the DuPont Red Lion – Beijing joint venture from 60 to 76%. This joint venture was formed in 1992 and will become known as DuPont Red Lion (Beijing) Company, Limited.
The increase in stake holdings will better allow DuPont to meet growth objectives for the Chinese market. This will in part be achieved by upgrading the Changchun plant to meet international standards and increase capacity, as well as including a state-of-the-art laboratory and application centre.
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Posted February 6th, 2004