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SFC and SigmaKalon merge their Korean coating business

SFC and SigmaKalon merge their Korean coating business

March 3, 2004

South Korea's Samsung fine chemicals company (SFC) and the Netherlands' SigmaKalon company said on February 23 that they have established a joint venture to merge their Korean coating business

in the joint venture, SFC accounts for 40% of the shares, while SigmaKalon through one of its subsidiaries only accounts for 60% of the shares for a short time. The company will be named sigma Samsung coatings (SSC). The financial situation of the joint venture was not disclosed, but an official of SFC said that SSC may start business in June

ssc will be one of the famous companies supplying coatings to the shipbuilding industry of South Korea, and will also be one of the suppliers in the market of protective coatings, coil coatings and general industrial coatings

sfc's paint department has a sales volume of 64 billion won (US $54.5 million/43 million euros), mainly selling ship paint and paint in South Korea. The company has production facilities in Ulsan, South Korea. Sigma paint company in South Korea specializes in providing coatings for the ship market, with a sales revenue of 30billion won

according to the joint venture agreement, the businesses of SFC coating company and sigma coating company continue to serve their respective users, but provide production and technical support for how to maintain the equipment of the combined hardness tester

ssc began to operate in the middle of 2004, but it must be submitted to the relevant management departments for approval. After the joint venture, SFC can obtain advanced coating technology and increase its market share; SigmaKalon can get a lot of sales and improve its competitiveness

sfc produces various fine chemicals, such as mecellose and dimethylformamide (DMF). The Sales Office of the company in Seoul has about 800 employees, the joint device is in Ulsan, South Korea, and there is a research and development center in Daejon. In 2003, the sales volume was close to 743billion won

SigmaKalon is a world-famous manufacturer of decorative coatings, marine coatings, protective coatings and industrial coatings. The company has about 10400 employees and is distributed in 40 countries. In 2003, the sales revenue was about 1.7 billion euros. SigmaKalon is the second largest decorative coating manufacturer in Europe. It has entered the Far East market, mainly the marine coating market and the anti-corrosion market. SigmaKalon's marine coating business ranks fourth in the world

due to the confidentiality agreement with this Dutch company, SFC cannot provide more details at present. Sigmakalo108 Dahou n is one of the largest suppliers of decorative coatings in Europe, mainly sold in the marine paint market, anti-corrosion paint market and industrial paint market

Samsung integrated chemical company (SGC) is a sister company of SFC. Last year, its assets were merged into a joint venture with French chemical company ottofina, with 50% shares each

it took a lot of effort to complete the acquisition of capital by Bain cap experimental machine, a private enterprise group, last year. After that, SigmaKalon was separated from the parent company of ottofina, the French oil group daudar finaelf

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