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Hempel A/S invests DKK 1 billion

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, One Hempel – 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 strong partnership
Ever since its creation in 1991 as a joint venture between the Hempel Group and China Merchants oldings (International) Co. Ltd., Hempel-Hai Hong has been a highly successful operation. Based on mutual respect, the relationship between the two partners has played an important part in this success.
 
Now both parties have realised the need to focus on their respective core businesses – ports and port-related activities for China Merchants Holdings (International) Co. Ltd., and worldwide marine, protective and decorative coatings for Hempel A/S.

Hempel CEO, Pierre-Yves Jullien, says: “China Merchants’ understanding of business in China and their good connections at all levels of Chinese society have been essential in building a strong position in the region. I believe the deal will provide the Hempel Group with significant opportunities for growth.”

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.”

Press release

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