"This transaction enables NPC to further enhance and expand its automotive coatings business by combining the automotive body coatings business and the plastic coatings business under a single global strategy," said Makoto Matsuura, NPC President. "This will improve customer satisfaction through customer relationship reinforcement, higher product quality and manufacturing efficiency."
The businesses being acquired collectively represent a leading position in the global automotive plastic paint market with strong positions in North America, Japan, China, Taiwan and Korea. The predecessor company to the Rohm and Haas business, Bee Chemical, was originally founded in Chicago in 1945 and has been collaborating with NPC in this market since the 1960's with the first joint venture established in Japan in 1971.
"We anticipate great success by combining NPC's strong global relationships and tradition of innovation in the automotive industry with Bee's expertise in the plastic paint market," said Koichi Kimoto, Executive Director and General Manager, Corporate Planning, Research and Development International for NPC. "This transaction will allow us to create additional business opportunities, expand our current business and strengthen our overall competitiveness."
About Nippon Paint
Nippon Paint is one of the largest paint companies in Japan and also is a substantial player in the global automotive body paint market with strong ties to Toyota, Honda and Mazda. Since its establishment in 1881, Nippon Paint has been a pioneer in the paint and coating industry. Based on its accumulated technological know-how and experience, Nippon Paint is committed to satisfying customer needs regarding colors and coatings. The company is also determined to contribute to the conservation of the global environment as a truly dedicated company of the 21st century. For more information, please visit http://www.nipponpaint.co.jp .
About Rohm and Haas Company
Rohm and Haas is a global leader in the creation and development of innovative technologies and solutions for the specialty materials industry. The company's technologies are found in a wide range of markets including: Building and Construction, Electronics, Industrial Process, Packaging and Paper, Transportation, Household and Personal Care, Water, Food and Retail and Pharma and Medical. Its technologies and solutions help to improve life everyday, around the world. Based in Philadelphia, Pa, the company generated annual sales of approximately $8 billion in 2005. Visit http://www.rohmhaas.com for more information.
Laura Battle Edelman (on behalf of Nippon Paint) +1-312-233-1374 Email Contact Carmen Ferrigno Coatings Communications Director Rohm and Haas Company +1-215-592-2908 Email Contact