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Kansai Paint acquires shares of Turkish paint manufacturer

 Last Update: 2021-08-11
 Source: Internet
 Author: User

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Japan's Kansai Paint Co.
, Ltd.
announced on May 25 that it has reached an agreement with Turkey's Polisan Holdings Company to acquire up to 50% of the latter's paint manufacturer, Polisan Boya Sanayive Ticaret AS, at a price of approximately 8.
9 times the company's EBITDA profit
.

Polisan Boya was founded in 1985 and is currently the third largest paint manufacturer in Turkey, especially in the field of decorative coatings.
Its products include architectural coatings (interior and exterior decorative coatings, glues, paint thinners, etc.
), insulation, Waterproof system, and sales and production of auxiliary products for coating construction.
In addition, the company has also entered the fields of furniture coatings and marine coatings
.

After the announcement of the cooperation with Kansai Paint, the share price of Polisan Holdings rose 8.
19%
.

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