Hempel A/S has reached an agreement to acquire Hempel-Hai Hong in China, with completion expected to take place on 5 January 2009. This latest acquisition means that Hempel A/S will have invested nearly DKK one billion in 2008, in line with its strategy for global growth, OneHempel – Everywhere.
Increasing its share in Hempel-Hai Hong from 36 percent to 100 percent will give Hempel A/S full control of its activities in China. Hempel-Hai Hong has a strong brand identity and is already responsible for 25 percent of Hempel A/S’s global turnover, making it one of the leading companies in the Hempel Group.
A year of expansion
Hempel-Hai Hong is the latest in a series of acquisitions following the implementation of the Hempel Group’s global strategy for growth, One Hempel – Everywhere.
Earlier in 2008, Hempel A/S acquired 54 percent of Hempel Croatia, giving it an overall stake of 98 percent and full control of the operation. The Hempel Croatia acquisition will allow Hempel A/S to apply the full force of its global strategy and promote further growth in this dynamic region of Europe. The Hempel Group also assumed full ownership of Hempel Morocco, a sales company based in Casablanca, and has just announced its decision to invest in the construction of a large production facility in Poland, which should be operational by the second quarter of 2010.
With three acquisitions and a new factory in Poland, Hempel A/S has invested nearly DKK one billion in 2008. “In a world that is becoming more global with every day that passes,” says Pierre-Yves Jullien, “it’s essential that a multinational group like Hempel is able to take action across regional and national boundaries to raise efficiency, invest in technology and continue improving service levels.”
The Hempel Group produces and sells protective coatings within the marine, container, yacht, decorative and protective market segments. Hempel has 20 factories, 47 sales offices, three research and development centres, and more than 130 stock points located around the world.
About Hempel-Hai Hong
Headquartered in Hong Kong, Hempel-Hai Hong has three factories (a fourth on the way), 10 major offices and 13 located stock points in China. With more than 1,000 dedicated employees, Hempel-Hai Hong produces more than 115 million litres of high quality coatings every year and has an annual turnover in excess of USD 375 million.