DuPont Announces Deals to Launch Coatings Venture Businesses in China
BEIJING - DuPont Performance Coatings announced agreements with Beijing Red Lion Coatings Co. Ltd. of China, forming two automotive coatings joint ventures based in Beijing and Changchun, China.
The ventures have received final government approval and will be 60% owned by DuPont and 40% by Red Lion. Operations are already under way, DuPont said. Financial terms were not disclosed. In one of the ventures, DuPont has increased its stake in an existing joint venture by acquiring the interest previously held by Akzo Nobel Coatings.