RPM Acquires Full Interest in Chinese Joint Venture
Carboline Co. recently acquired the remaining interest in Carboline Dalian Paint Production Co.
RPM International Inc. recently announced that its Carboline Co. subsidiary acquired the remaining 51% interest in its Chinese joint venture, Carboline Dalian Paint Production Co. Ltd., bringing its total ownership to 100%. The transaction reportedly is expected to be accretive to earnings within one year.
Carboline Dalian, with sales of approximately $11 million, manufactures corrosion control coatings and linings for oil and gas-, power-, and petrochemical-related projects. Headquartered in Dalian, China, the company also has operations in Shanghai, Tianjin, Guangzhou and Hong Kong.