— Furniture Today,
\nMINNEAPOLIS — Major coatings supplier Valspar Corp. has acquired a majority interest in Huarun Paints, one of China\u00e2\u20ac\u2122s largest independent coatings companies.
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\nThe all-cash transaction is expected to close by the end of July. Valspar officials said it would slightly decrease the company\u00e2\u20ac\u2122s earnings in fiscal 2013 and 2014.<\/p>\n
The purchase price wasn\u00e2\u20ac\u2122t disclosed.<\/p>\n
\u00e2\u20ac\u0153Valspar is pleased to expand its presence in China, with the Huarun Paints management team and current shareholders as our partners,\u00e2\u20ac\u009d said President and CEO William Mansfield. \u00e2\u20ac\u0153By combining the resources of our two companies, we intend to expand Huarun Paints\u00e2\u20ac\u2122 product offering and geographic reach in the world\u00e2\u20ac\u2122s fastest-growing coatings market.\u00e2\u20ac\u009d<\/p>\n
Huarun Paints, which had sales of $180 million in 2012, is a leading China supplier of wood, furniture and architectural coatings. Its products are sold throughout China via a network of distributors and paint stores.<\/p>\n
The majority stake in Huarun Paints had been owned by Champion Regal, a Hong Kong-based investment company.<\/p>\n","protected":false},"excerpt":{"rendered":"
— Furniture Today, MINNEAPOLIS — Major coatings supplier Valspar Corp. has acquired a majority interest in Huarun Paints, one of China\u00e2\u20ac\u2122s largest independent coatings companies.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1108","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=1108"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1108\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=1108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=1108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=1108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}