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Toyo Ink Group will increase ownership in their JV Jiangsu Toyo Renxin Pigment to 51%.
August 8, 2016
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
Toyo Ink SC Holdings Co., Ltd., the parent company of the Toyo Ink Group of companies, announced today that it has raised its stake in the joint venture company, Jiangsu Toyo Renxin Pigment Co., Ltd., by 1% to 51%, making the JV a consolidated subsidiary of the Toyo Ink Group. The Toyo Ink SC Holdings (the Toyo Ink Group) and Yabang Investment Holding Group Co., Ltd. (the Yabang Group) initially established a 50-50 joint venture partnership Jiangsu Toyo Yabang Pigment Co., Ltd. in April 2012. The joint venture company engages in the sale of both partners’ organic pigment products in China, customer support and the sale of products for export to overseas markets. In June 2016, Jiangsu Toyo Yabang Pigment was renamed Jiangsu Toyo Renxin Pigment following restructuring initiatives at the Yabang Group that resulted in the split-off of its pigments business and the creation of an independent joint venture company, Jiangsu Renxin Chemical Co., Ltd. As part of a new agreement between the Toyo Ink Group and its new partner Jiangsu Renxin Chemical, the Toyo Ink Group will increase ownership in their JV Jiangsu Toyo Renxin Pigment to 51%. This move is expected to further strengthen the strategic partnership and accelerate the global expansion of the pigment business by further leveraging the knowhow of the Group. A letter of intent to this effect has been signed by both partners and approved by the Jiangsu Provincial People’s Government of the People’s Republic of China. The Toyo Ink Group and Jiangsu Renxin Chemical will, through this joint venture partnership, sell highly competitive organic pigments that meet the needs of a wide range of markets in China and overseas.
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