Mitsui & Co., Ltd. has decided to make additional investment, together with Kansai Paint Co., Ltd. in Kansai Helios Coatings GmbH a Europe-based paint and coatings manufacturer, in which Mitsui has a 20% stake and KANSAI PAINT 80%. This additional investment is aimed at financing KANSAI HELIOS' acquisition of WEILBURGER Coatings GmbH (Head Office: Weilburg, Germany, CEO: Frank Glaser) and WEILBURGER Asia Ltd., located in Hong Kong (hereinafter collectively referred to as "WEILBURGER"), which engages in the manufacturing and sales of industrial coatings. KANSAI HELIOS plans to sign a share purchase agreement for the acquisition of WEILBURGER on February 09th, 2024.

Founded in Germany in 1900, WEILBURGER is a long-established coatings manufacturer with business operations in Germany, Italy, France, Turkey, Brazil, India, China, and the US. With a forecasted consolidated sales turnover of approximately 150 million EUR in the fiscal year 2023, it has built a solid presence in the industrial coatings market, offering such products as non-stick coatings for cookware and electrical appliances, as well as heat-resistant coatings and railway coatings.

KANSAI HELIOS supplies a wide range of coatings products for use on railway rolling stock, agricultural and construction machinery, and metal products. It has expanded its business mainly throughout Europe, including Austria, Slovenia, Germany, and France. The acquisition of WEILBURWeilburger's coatings manufacturing plant at the headquarters in GermanyGER will further strengthen KANSAI HELIOS' presence in Europe and expand its reach into growth markets beyond Europe.

KANSAI HELIOS has implemented its growth strategy and executed several asset and business acquisitions recently through close alignment with KANSAI PAINT and Mitsui. By providing funds to KANSAI HELIOS to acquire WEILBURGER, Mitsui will continue to support the further growth of KANSAI HELIOS spurred by this acquisition. Furthermore, leveraging its global business base and networks, extensive industrial knowledge, and specialized regional expertise, Mitsui will reinforce its profit base in the coatings business.

Company Profile

Weilburger's coatings manufacturing plant at the headquarters in Germany