Japanese ink giant DIC buys India coating resins maker Ideal Chemi Plast
TOKYO, NNA - DIC Corp., Japan's largest ink maker by revenue, has entered the Indian market with the acquisition of resins manufacturer Ideal Chemi Plast Pvt. Ltd.
DIC said in a statement on Tuesday that the acquisition was completed on April 27. It did not disclose the price.
Ideal Chemi Plast, established in 2004, produces and sells acrylic, alkyd, polyester and other resins for auto refinishing, coil and wood coating and other uses.
DIC has been expanding overseas, especially in South Asia, aiming to boost revenue from the Asia Pacific region to 115.4 billion yen ($1 billion) in fiscal 2021 from 90.1 billion yen in fiscal 2018.
It aims to increase global sales to 950 billion yen in fiscal 2021 from 805.5 billion yen in fiscal 2018.