Citation
(2007), "HERO Products Group announces acquisitions in India, Europe and China", Pigment & Resin Technology, Vol. 36 No. 5. https://doi.org/10.1108/prt.2007.12936eab.007
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited
HERO Products Group announces acquisitions in India, Europe and China
HERO Products Group announces acquisitions in India, Europe and China HERO Products Group has acquired ECS Color Systems and ECS Color Solutions, “ECS” of Mumbai India. ECS is a seven-year-old producer of dispensing and mixing devices for the decorative and automotive coatings industry. The acquisition gives HERO a base for the economic production, development and distribution of its range of mixing and dispensing machines for global distribution. ECS founder, Nevil Oswald, will be a partner in I.C.T.C. Holdings Corp. and will remain as MD for HERO's Indian division, responsible for the whole of Asia. (www.ecscolor.com/)
HERO Products Group has entered into a letter of intent to acquire NIT s.r.l., Turin, Italy. NIT is a six-year-old manufacturer of automated dispensing and mixing devices for the architectural coatings industry. Furthermore, NIT holds certain worldwide patents on a variety of specialized methodology relating to dispensing of coatings and colorants. NIT was founded by Alessandro Sacchet, who will remain responsible for HERO's European operations, will become a partner in I.C.T.C. Holdings Corp., and will be Head Of Technology in support of HERO's global strategy. (www.ni-tech.it/)
HERO Products has also entered into a heads of agreement with a Chinese equipment manufacturer in the form of a joint venture. The agreement will provide HERO with a presence in China that will both serve as an economical provider of certain components for global product consumption, as well as an Asian base for the local production and distribution of dispensing, mixing and spraying products for the rapidly expanding Chinese paint market. HERO states that it will be the first North American airless paint-sprayer manufacturer to produce professional- grade airless paint sprayers in China, giving HERO further penetration into the paint and coatings industry in Asia.
HERO is a 39-year-old light-assembly manufacturer of retail-focused paint- equipment products headquartered in Vancouver, BC, Canada, and currently distributing its products into approximately 60 countries.