BASF Coatings and Samhwa Paints with Exclusive Distribution Agreement in Korea
Seoul. In South Korea BASF coatings S.A. will in the near future sell its R-M® branded automotive refinish paints in co-operation with Samhwa Paints Ind. Co. Ltd., Seoul/South Korea. Representatives of the two companies signed an exclusive Distribution Agreement to that effect on March, 14th, 2001. The agreement covers marketing of the complete R-M automotive refinish products.
"We are confident that the leading products of BASF's R-M brand will soon win us a top position in Korea," said Jang-Yeon Kim, President of Samhwa Paints Ind. Co. Ltd. "Through this co-operation, Samhwa will be able to broaden its product range, while we will gain access to the Korean market," explained Jean-Pierre Monteny, head of the Automotive Refinish business of BASF Coatings AG. A new, comprehensive sales and marketing program has been set up by the two companies to ensure that this project will succeed.
Samhwa Paints Ind. Co. Ltd.
Samhwa Paints Ind. Co., Ltd., a company listed on the Korean stock exchange, started its business in April, 1946. With a workforce close to 600 employees Samhwa today is the fourth largest paint manufacturer in South Korea with a comprehensive sales network throughout Korea. With sales of 120 million euros in the year 2000 Samhwa is widely recognized for being a manufacturer of high quality products, innovative technologies due to employing state-of-the-art manufacturing equipment, having a wealth of experience and alliance with international paint manufacturers. The company is active in architectural, industrial, heavy-duty, marine and coil coatings and synthetic resins. Samhwa has enjoyed a leading market share with architectural paint for years.
R-M Automotive Refinish: an important part of BASF Coatings
Under the R-M brand, BASF markets a comprehensive range of automotive refinishing paint systems, focusing on eco-efficient water-borne basecoats and high-solids paints. By using these systems all legal solvent-reduction requirements can be complied with anywhere in the world, and with regard to appearance and resistance, the products meet the same quality standards as solvent-borne paints. In this area, the company offers a wide variety of services to support its customers. Its paint lines Diamont, and Uno are seen throughout the world as innovative technology for today's modern bodyshop. R-M Automotive Refinish is approved by most of the leading car manufacturers for aftermarket repair and chosen by the world's most prestigious car companies for its color expertise.
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