By admin

December 19, 2006

Spencer Coatings Limited have been operating in China since 1997 through the Taishan Spencer Coatings Joint Venture.  Our factory opened in Taian City in 1995, producing a comprehensive range of industrial coatings primarily for the protective coatings market in China.

Negotiations with our partners Taishan Petrochemical (a subsidiary of Sinopec) and Jiangmen Jiangtai Economic Development Company have resulted in agreements for Spencer Coatings Limited to become the major shareholder of the JV which will enable us to take full financial and management control.  These changes in ownership are necessary to fully exploit the opportunities in the fastest growing market for industrial coatings in the world.  Completion of the buy-out of Taishan Petrochemical and the establishment of the new ownership structure with Jiangmen Jiangtai is expected to be April 2007.

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