Sersol-NCK ink understanding for thermal barrier paint

0

KUCHING: Sersol Bhd (Sersol), Malaysia’s solely public-listed paint maker had on yesterday signed a Memorandum of Understanding (MOU) with Japanese Nihon Chuo Kenkyujo Co Ltd (NCK).

Sersol said it will manufacture and market thermal barrier paint under the Adgreencoat brand name upon the establishment of a joint venture company in which Sersol will hold 51 per cent stake while NCK will hold the remaining 49 per cent stake.

Executive director Jason Ong in a press statement said the agreement is a milestone for Sersol, which has been in the coating business for more than two decades.

“This (agreement) will give us the platform to step into the world stage, as well as ride on the strong brand name of our Japanese partners. Branding is the key to success.

“As you can see, we have the quality – as can be seen by the Japanese parts entrusting Sersol to manufacture their paint – but what was lacking was the branding name.

“We believe this agreement is a stepping stone that will benefit all the stakeholders as well as building owners, due to the energy saving aspect of the paint.

“The feedbacks has been very satisfactory and positive.

“With a proven track records and project references in Japan, Saudi Arabia, and Singapore, Sersol is highly determined and confident that Adgreencoat will become the next ‘new talk in the town’ on eco green product in the market,” Ong said.

Sersol added the MOU will also witness Sersol becomes the sole manufacturer of the paint in the whole of Asia and West Asia (excluding China).

NCK led special-purpose-vehicle (SPV) is known as Roton Kimer Capital Sdn Bhd, which will also act as a technology transfer facilitator between the Japanese and Malaysian parties.

NCK posted revenue of US$12 million from sale of paint in 2014.

Sersol further said the agreement will allow the company to have access to Japanese giant’s client base throughout Asia and West Asia (excluding Japan) and Middle East.

NCK has jointly applied and acquired the patent of Adgreencoat with Admatechs Co Ltd (Admatechs) through an agreement signed on February 22, 2006.

Admatechs is 53.3 per cent owned by Toyota Motor Corporation, Shin Etsu Chemical Co Ltd (25.8 per cent), Shin Etsu Quartz Products Co Ltd (15.5 per cent), Tatsumori Ltd (5.2 per cent) and others (0.2 per cent).

On another note, Sersol said NCK currently carries out its own research and development (R&D), product enhancement and production activities in Japan for Adgreencoat after jointly acquiring the patent of the product.

Adgreencoat paint has been in the market since 2006 generating estimated sales value of US$110 million serving mainly Japanese companies.