Valspar Completes Strategic Investment in Huarun Paints
Wednesday July 26, 10:36 am ET
Leading Chinese Coatings Company Expands Valspar's Customer Base in Fast-Growing Market
MINNEAPOLIS, July 26 /PRNewswire-FirstCall/ -- The Valspar Corporation, a leading global coatings company, announced today the completion of its previously announced investment in Huarun Paints Holdings Company Limited. Under the terms of the transaction, Valspar acquired an 80% interest in Huarun Paints from Champion Regal Limited, a Hong Kong based investment company, and certain other shareholders. Huarun Paints is one of China's leading domestic suppliers of wood and furniture coatings and a rapidly growing supplier of architectural coatings. Huarun Paints sells its products primarily through an extensive network of distributors and retail paint stores throughout China.
With fiscal 2005 sales of $2.7 billion, Valspar is a global leader in the paint and coatings industry, with a broad range of products including industrial, architectural, packaging, automotive refinish and floor coatings and specialty polymers and colorants.
Source: The Valspar Corporation
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