Akzo Nobel enters docorative coatings market in Vietnam.ARNHEM, Aug. 21, 1995--(BUSINESS WIRE)--Akzo Nobel has acquired a majority share (51%) in Sapina Denzo Saigon Co. Ltd., Ho Chi Minh City Ho Chi Minh City, formerly Saigon, city (1997 pop. 5,250,000), on the right bank of the Saigon River, a tributary of the Dong Nai, Vietnam. . The activity will be part of Akzo Nobel's business unit Decorative Coatings South. Sapina Denzo Saigon was founded in 1992 as a joint venture of the Thai company Sapina Holding Corp. Ltd. and a Vietnamese partner. The Housing and Construction Co. of Phu Nhuan District, Ho Chi Minh City, under the Ministry of Construction of Vietnam, which entities keep a minority share in the company. Sapina Denzo Saigon, which specializes in decorative paints, had sales of U.S. $2 million in 1994 and employs 36 people. The company is to serve as a base for expansion in the rapidly developing Vietnamese market. Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. , headquartered in the Netherlands, is one of the world's leading companies in selected areas of chemicals, coatings, healthcare products, and fibers. More than 70,000 people in over 50 countries make up the Akzo Nobel work force. In the area of coatings the product range covers decorative paints, car refinishes, industrial coatings An industrial coating is a paint or coating defined by its protective, rather than its aesthetic properties, although it can provide both. The most common use of industrial coatings is for corrosion control of steel or concrete. for metal, wood and plastics, coil coatings, aerospace finishes as well as impregnated im·preg·nate tr.v. im·preg·nat·ed, im·preg·nat·ing, im·preg·nates 1. To make pregnant; inseminate. 2. To fertilize (an ovum, for example). 3. paper, adhesives, printing inks and resins resins, n.pl complex, insoluble, sticky substances secreted by plants. Used as astringents, antimicrobials, and antiinflammatories, and are burned as incense. Can cause oral ulcers and epidermal irritations. . CONTACT: Akzo Nobel Inc., Chicago 312/906-7612 |
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