Paint and coating products manufacturer, Nippon Paint Holdings Co Ltd (NPHD) has announced that Nippon Paint Malaysia Sdn. Bhd. (NP Malaysia) is acquiring majority stakes in home improvement solutions provider, Vital Technical Sdn Bhd (Vital Technical).
Vital Technical is headquartered in Malaysia with four production facilities and has expanded its business to more than 70 countries worldwide, mainly in Southeast 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,” Group Managing Director of Nippon Paint Malaysia Group, Yaw Seng Heng said.
NPHD Group and Vital Technical will accelerate market growth and strengthen its financial position through mutual sales whilst expanding on product line-ups, including, supplier of adhesive, sealant, and Do-It-Yourself (DIY) solution in Malaysia.
In addition to acquiring a management team that is well-versed in the Sealant, Adhesives and Fillers (SAF) segment with specialised technology, the acquisition will also improve efficiency through the increase of production capacity and coordination of raw material procurement.