KUALA LUMPUR: Nippon Paint Holdings Co Ltd (NPHD) has announced that Nippon Paint (M) Sdn Bhd (NP Malaysia), a 100% subsidiary of NPHD, is acquiring majority stakes in Vital Technical Sdn Bhd.
Vital Technical, established in 2002, is the number one player in the Malaysian Sealants, Adhesives and Fillers (SAF) market. It is headquartered in Malaysia with four production facilities and has expanded its business to more than 70 countries worldwide, mainly in South-East Asia.
In line with Nippon Paint’s expansion strategy into adjacent segments, this acquisition will see Nippon Paint’s growth as a market leader in the home and industrial improvement solutions industry.
NPHD Group and Vital Technical will accelerate market growth and strengthen its financial position through mutual sales whilst expanding on product line-ups, including Selleys, a recent business integration by NP Malaysia.
In addition to acquiring an excellent management team that is well-versed in the SAF segment with specialised technology, the acquisition will also improve efficiency through the increase of production capacity and coordination of raw material procurement.