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Kansai Paint in talks to buy a Saudi Aramco coatings supplier

Terms are still being negotiated and the deal is unlikely to close until the fourth quarter, Kansai Paints President Hiroshi Ishino said

Gulf News

Doha: Kansai Paint Co plans to buy Saudi Industrial Paint Co, a supplier of protective coatings to Saudi Arabian Oil Co, to tap into Gulf countries’ energy and infrastructure industries. Terms are still being negotiated and the deal is unlikely to close until the fourth quarter, Kansai Paints President Hiroshi Ishino said in an interview in Doha on Friday. SIPCO, as the Dammam-based company is known, didn’t respond to requests for comment. Kansai Paint’s biggest customers are in the Japanese auto industry. The Osaka-based company wants to expand decorative-paints and industrial-coatings sales outside its home market, Ishino said.

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