Sherwin-Williams launches Sino-American Automotive Paint JV

Sherwin-Williams launches Sino-American Automotive Paint JV

Sherwin-Williams has launched a joint venture for making car paint in Shanghai in cooperation with a local chemical company. Shanghai SW and KNT Coating Co., which was inaugurated on 2 April, is jointly financed by Sherwin-Williams and Shanghai Kinlita Chemical Co. Ltd. It will require a total investment of 8 million USD, said corporate sources.

In accordance with the agreement, the American investor is responsible for 60 percent of the investment in the joint venture, which is registered for a capital of 37 million yuan (about 4.46 million USD), while the Chinese partner will pay the rest. The new joint venture, which has a term of 50 years, will be equipped with equipment and technologies imported from the USA and will also produce decorative accessories for automobiles.