DuPont increases equity position in Chinese joint ventures

Citation

(2004), "DuPont increases equity position in Chinese joint ventures", Pigment & Resin Technology, Vol. 33 No. 3. https://doi.org/10.1108/prt.2004.12933cab.012

DuPont increases equity position in Chinese joint ventures

DuPont increases equity position in Chinese joint ventures

DuPont has increased its equity position in the DuPont Red Lion–Beijing joint venture to 76 percent from 60 percent. The joint venture in Beijing was initially formed in 1992. DuPont also acquired 100 percent ownership of its other DuPont Red Lion joint venture in Changchun, China, by purchasing the remaining 40 percent interest held by Red Lion. “By increasing our equity position for coatings supply in China, DuPont will be better able to meet the growth objectives of the Chinese automotive industry with the latest technology to meet worldwide expectations for aesthetics, durability and environmental compliance,” said Marty M. McQuade, Vice-President and General Manager for the automotive OEM coatings unit of DuPont Performance Coatings, DuPont Herberts Automotive Systems.

“To further strengthen our capabilities in China to provide our customers with world-class services and locally manufactured products, we will use this base to invest further in additional manufacturing and technical service capabilities,” McQuade said. Current coatings manufacturing in Beijing will relocate to new facilities in a Beijing industrial zone, starting operations by the end of 2005. The new facility will include a technical center to allow efficient testing and adaptation of individual coating products to quickly respond to customer requirements.