Dulux Will Own 51 Percent of The New Company Called DGL Camel International

Australia's largest paint maker Dulux has expanded its presence in the growing Chinese market through a merger between its Chinese operations and Hong Kong-based Camelpaint group. Dulux will own 51 percent of the new company called DGL Camel International. Camelpaint was established in Hong Kong in 1932, manufacturing a range of coating products in Hong Kong and southern China. Dulux and Camelpaint have been joint venture partners to produce powder coatings used in windowsills and door paints in China since 2004. Financial details were not disclosed and earnings will be accretive in 2012. Dulux recorded revenue of roughly $700 million last year with more than 90 percent of its business coming from Australia and New Zealand. Remaining sales occur in Malaysia, China, Hong Kong and PNG. Source: COATING WORLD